UPDATE 1-Judge sets May 14 hearing in Trump bid to block Congress demand on his finances

A U.S. judge on Tuesday said he would hear oral arguments on May 14 in a lawsuit brought by President Donald Trump seeking to block a subpoena for information about Trump's personal and business finances. Trump's accounting firm, Mazars USA, had faced an April 29 deadline for complying with the demand from the Democratic chairman of the U.S. House of Representatives Oversight Committee, Representative Elijah Cummings.

U.S. District Judge Amit Mehta in Washington said the firm would not need to respond until one week after he rules on Trump's request for a preliminary suspension of the subpoena. The committee said the records are related to its investigation of allegations by Trump's former personal lawyer Michael Cohen that businessman Trump had inflated or deflated financial statements for potentially improper purposes. Cummings sought eight years of financial documents from Mazars and Trump sued Cummings on Monday to halt the process.

Cohen testified to Congress in February that Trump had misrepresented his net worth in the years before he was elected president in 2016. Cummings and Trump had jointly agreed to the new schedule, the judge said in his order. (Reporting by Jan Wolfe; editing by Grant McCool)