FILE - The towers of the German company Deutsche Bank are pictured in Frankfurt, western Germany.
FILE - The towers of the German company Deutsche Bank are pictured in Frankfurt, western Germany.

Two U.S. House of Representatives committees have issued subpoenas to multiple financial institutions, including Deutsche Bank AG, for information on President Donald Trump's finances, the panels' Democratic leaders said Monday.

"The potential use of the U.S. financial system for illicit purposes is a very serious concern. The Financial Services Committee is exploring these matters, including as they may involve the president and his associates, as thoroughly as possible," the committee's chair, Maxine Waters, said in a statement.

Congresswoman Maxine Waters (D-Calif.) attends the
FILE - Congresswoman Maxine Waters (D-Calif.) attends the 2017 Glamour Women of the Year Awards at Kings Theatre in New York, Nov. 13, 2017.

House Intelligence Committee Chairman Adam Schiff said in a statement the subpoenas issued included a "friendly subpoena to Deutsche Bank."

A 2018 financial disclosure form showed liabilities for Trump of at least $130 million to Deutsche Bank Trust Company Americas, a unit of the German bank. They are for properties including the Trump International Hotel in a former post office in Washington.

Deutsche Bank said in January, shortly after Democrats took control of the House following the November elections, that it had received an inquiry from the two committees on its ties to the Republican president.

Schiff said Deutsche bank had been cooperative. "We look forward to their continued cooperation and compliance," he said.

Kerrie McHugh, a Deutsche Bank spokeswoman, said the bank was engaged in a "productive dialogue" with the two committees.

"We remain committed to providing appropriate information to all authorized investigations in a manner consistent with our legal obligations," she said in an emailed statement.

The New York Times, which first reported the committees' actions Monday, said Citigroup, JPMorgan Chase and Bank of America had also received subpoenas.

Trump lawyers did not immediately respond to requests for comment.