President Donald Trump listens during a listening session on youth vaping of electronic cigarette on November 22, 2019 in the Cabinet Room of the White House in Washington, DC.

A federal appeals court ruled Tuesday that Deutsche Bank and Capital One must hand over years of President Donald Trump's financial records in compliance with House Democrats' subpoenas.

The ruling in the New York-based 2nd U.S. Circuit Court of Appeals offers another judicial loss for Trump, who has fought off attempts to obtain his financial records, including his tax returns, through multiple lawsuits.

The case is likely destined for the Supreme Court, where the president has already appealed two other lower court decisions requiring the disclosure of his financial records. The court gave Trump's attorneys seven days to bring the matter to the justices.

Trump has defied calls to publicly release his tax records and provided a variety of explanations for his failure to do so. He is the first president in more than 40 years not to voluntarily make his tax records public.

"We believe the subpoena is invalid as issued," Trump's lawyer Jay Sekulow said in a statement. "In light of the Second Circuit decision, we are evaluating our next options including seeking review at the Supreme Court of the United States."

The subpoenas were issued by the Democratic-controlled House Intelligence and Financial Services Committees and seek financial records related to Trump, his businesses and members of his family. The committees have said they are pursuing an investigation into Russian money laundering and other matters.

In May, U.S. District Court Judge Edgardo Ramos ruled that the two banks must comply with subpoenas. Trump appealed Ramos' ruling two days later.