President Trump and the Trump Organization filed suit against House Oversight Committee chairman Elijah Cummings in federal court on Monday in an attempt to block Cummings' subpoena of Trump's longtime accountant, Mazars USA LLP.

The big picture: Cummings wrote last week that the subpoena — for all of Trump's financial records — is a result of testimony from Trump's former lawyer Michael Cohen, who claimed that the president "altered the estimated value of his assets and liabilities on financial statements."

Trump's suit claims that Cummings and House Oversight are "assuming the powers of the Department of Justice, investigating (dubious and partisan) allegations of illegal conduct by private individuals outside of government" solely to dig up dirt ahead of the 2020 presidential election.

Read the lawsuit here:

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