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If you issued the subpoena, and the bank does not want to produce the records, then it needs to file a motion to quash the records and make its claim to the court (that there are privacy concerns for the new wife)......and the judge will decide the issue from there. Otherwise, you can file a motion to hold the bank in contempt of court if it fails to produce the records and ask the court to compel the bank to produce the records.
These issues all boil down to relevance.....and that means the court will decide whether or not the information in this loan has anything to do with your child support issue. The court would likely over the bank to submit the documents under seal to the judge and allow him/her to review the documents and determine whether or not there is any relevance.
If so, the judge could order that any information relating to his wife be redacted or blacked out and then have the documents produced to you.