The Trump Organization sues the chairman of the House Oversight Committee to block subpoena of Trump's financial records

Pablo Martinez Monsivais/AP

• The Trump Organization sued the chairman of the House Oversight Committee on Monday after he subpoenaed President Donald Trump's accounting firm for Trump's financial records.
• The chairman, Maryland Rep. Elijah Cummings, announced the subpoena to Mazars USA last week.
• He requested Trump's financial records going back 10 years and said the subpoena was based on testimony provided by Trump's former lawyer, Michael Cohen, as well as "corroborating documents" that raised questions about "whether the President has been accurate in his financial reporting."

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The Trump Organization is suing Maryland Rep. Elijah Cummings, the chairman of the House Oversight Committee, over a subpoena the panel sent to President Donald Trump's main accounting firm.

"Democrats are using their new control of congressional committees to investigate every aspect of President Trump's personal finances, businesses, and even his family," the filing says. "Instead of working with the President to pass bipartisan legislation that would actually benefit Americans, House Democrats are singularly obsessed with finding something they can use to damage the President politically."

Cummings announced the subpoena in a memo last week. The Maryland Democrat said it was a "friendly subpoena" because the accounting firm, Mazars USA, had requested a subpoena from the committee before turning over records related to the president's finances.

Cummings requested Trump's financial records dating back 10 years, adding that the subpoena was based on testimony provided by Trump's longtime former lawyer, Michael Cohen, as well as "corroborating documents" that "raise grave questions about whether the President has been accurate in his financial reporting."

In February, Cohen appeared before the House Oversight Committee for a blockbuster hearing in which he implicated the president in campaign-finance violations, as well as financial misconduct. Among other things, Cohen has Trump routinely inflated or deflated his assets for insurance and tax purposes.

Cohen also accused Trump of inflating his net worth in an effort to buy the Buffalo Bills football team.