Trump appeals order that slammed his IRS lawsuit and referred his lawyer to bar
Trump had sued the IRS for $10 billion over the leak of his tax information by an agency contractor.
The lawsuit brought by Trump against the IRS has been met with significant skepticism from the courts, and the recent appeal is unlikely to change the outcome. The case centers around a $10 billion claim for damages stemming from the leak of Trump's tax information by an agency contractor. While the leak itself is a serious issue, the scale of Trump's damages claim appears to be unfounded.
The IRS and other government agencies have historically enjoyed broad protections against lawsuits related to their official duties. In this case, the courts have already expressed doubts about the legitimacy of Trump's claims, and the referral of his lawyer to the bar suggests that there may have been issues with the way the case was presented. For the lending industry, this case is a reminder of the risks associated with high-profile disputes and the importance of thorough due diligence.
Looking ahead, it's worth watching how this case progresses through the appeals process and whether Trump is able to revive his claims. Additionally, the lending industry should be paying attention to any potential implications for tax information security and the liability of government contractors. Any changes to the way that tax information is handled or protected could have significant implications for lenders and borrowers alike.
Originally reported by cnbc.com. LendingNews adds analysis for finance & markets readers.