New York Attorney General Letitia James has subpoenaed records from Deutsche Bank and Investors Bank.
To support his testimony, Cohen provided financial statements that he claimed had been sent to Deutsche Bank.
The investigation's scope is not yet known at this time, additional reporting from Bloomberg noted.
The request to Deutsche Bank sought loan applications, mortgages, lines of credit and other financing transactions in connection with the Trump International Hotel in Washington, the Trump National Doral outside Miami, and the Trump International Hotel and Tower in Chicago, the New York Times reported the person as saying.
The subpoenas stem from Michael Cohen's bombshell testimony to Congress, where he accused his former boss of inflating financial records to Deutsche Bank. Trump also made attempts to raise portraits of his worth in order to obtain a loan in an attempt to purchase the Buffalo Bills, Cohen explained.
CNN has reached out to the NY attorney general's office and Investors Bank. In extreme circumstances, the Times noted, the AG even has the authority to break up businesses found to be in violation of those laws. A US branch of the German bank loaned Trump more than $100 million for the Doral golf resort in Florida in 2012, and $170 million for the Trump International Hotel in Washington, D.C.in 2015.
Real-life ‘Jonah’ escapes after almost being swallowed by whale
Schimpf said he feels "privileged" to have experienced something so rare, but he hopes it doesn't happen again. The diver and witnesses to the incident believe the whale was just as surprised to find a man in it's mouth.
New Jersey-based Investors Bank was subpoenaed for records relating to Trump Park Avenue, a project it had backed. No wonder people are fleeing the State in record numbers.
Investors Bank and the Trump Organization didn't immediately respond to requests for comment late Monday.
Deutsche Bank was listed on Mr. Trump's financial disclosure forms as his biggest creditor.
Olayinka Fadahunsi, Vice President of Communications at Deutsche Bank in NY, declined to comment on the subpoena. The previous acting attorney general already humiliated the president by filing a lawsuit against and dissolving the Trump Foundation.
In Congress, the House Intelligence Committee has been exploring real estate transactions related to Russian Federation and other foreign interests, including Deutsche Bank loans to the Trump Organization.
House Democrats are also probing Trump's ties with Deutsche Bank, one of the few institutions to lend to Trump after a series of bankruptcies in the 1990s.