U.S. Treasury Secretary Steven Mnuchin said Thursday he will protect President Trump's privacy if he receives a request from House Democrats for the president's tax returns, per NBC.

Driving the news: House Ways and Means Committee Chairman Richard Neal (D-Mass.) is expected to formally ask for Trump's tax returns as House Democrats continue to lay the groundwork for investigating the president's financial deals and interests.

"We will examine the request and we will follow the law ... and we will protect the president as we would protect any taxpayer regarding their right to privacy."

— Mnuchin at Thursday's House Ways and Means Committee hearing

Go deeper: At Michael Cohen's hearing, AOC sets stage for Dems to go after Trump's tax returns