Mr Trump has said Cohen is lying to try to get out of a prison sentence for tax evasion, campaign finance violations, making false statements to banks and lying to Congress. The subpoenas went out, reportedly as part of a civil investigation, to Investors Bank and Deutsche Bank, which was, the New York Times noted, "one of the few lenders willing to do business with Donald J. Trump in recent years".
The subpoenas issued by the attorney general seek loan applications, as well as mortgages, credit lines and other documents related to the Trump International Hotel in Washington, D.C., buildings in Chicago and NY and a golf course in the Miami area.
Trump's former personal lawyer Michael Cohen testified to Congress last month that Trump lied to both the IRS and banks about his cash holdings, outstanding debts and the value of his real estate assets.
Per the Times, James is also unearthing documents pertaining to Trump's failed bid to buy the Buffalo Bills in 2014.
The U.S. -based unit, which works with ultra-wealthy clients, lent Trump more than $270 million from 2012 to 2015 for his Doral golf resort outside Miami and the luxury hotel revamp of the Old Post Office Building in Washington, the Times writes.
A person familiar with the matter says Monday's subpoenas seek loan applications, mortgages and other records.
While other commercial banks had stopped working with Trump (apparently due to his bankruptcies), Deutsche Bank continued doing business with Trump for decades, Bloomberg writes.
The Trump Organization and Trump have not commented on the latest investigation. The press office for New Jersey-based Investors Bank didn't immediately return a call for comment.
James had vowed to investigate Trump in connection to the probe by the special counsel, Robert Mueller III, into potential Russian interference in the 2016 election, the paper writes.
James and Cuomo are Democrats. Before former Attorney General Eric T. Schneiderman resigned amid allegations of assault and abuse against women, he pursued cases against the Trump Foundation and Trump University.
"Will never be treated fairly by these people - a total double standard of 'justice, '" he added on Twitter. Deutsche Bank has been known to have backed a number of Trump Organization projects in the past, including lending $100 million for the Doral and $170 million for the D.C. hotel.