New Bill Seeks to Expose What Major Banks Knew Regarding Epstein’s Spending
Por Truthout — Truthout
“We need to know what financial institutions and their executives knew about Epstein,” Rep. Robert Garcia said.
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Several members of Congress have submitted new legislation that would require financial regulators and private banking institutions to disclose thus far unreleased transactions made by disgraced financier and accused child sex trafficker Jeffrey Epstein.
The Epstein Wall Street Records Act would require federal banking regulators — including the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve, the Securities and Exchange Commission (SEC), and the Comptroller of the Currency — to make public any files relating to how Epstein spent his money. The legislation is needed, sponsors of the bill say, because it’s unclear whether banking institutions were aware of his crimes and may have helped facilitate them.
In addition to Epstein, the bill would require disclosures for “any entity owned or controlled” by Epstein, as well as financial holdings and transactions made by Ghislaine Maxwell, his former girlfriend and accomplice, or associates of the two.
Large private financial entities that could be affected by the bill include Barclays, Goldman Sachs, JP Morgan Chase, Bank of America, and others.
The proposed legislation is sponsored by every Democratic member of the House Oversight Committee, including ranking Rep. Robert Garcia (D-California). Joining in sponsorship of the bill are Sens. Elizabeth Warren (D-Massachusetts), Richard Blumenthal (D-Connecticut), and Ron Wyden (D-Oregon). Rep. Thomas Massie (R-Kentucky) is the only Republican signed onto the bill so far.
Garcia explained the justification for the bill by stating:
Jeffrey Epstein used his immense wealth to abuse women and girls for decades. Meanwhile, banks and financial institutions enriched him and themselves by servicing his accounts and helping him move money around. We need to know what financial institutions and their executives knew about Epstein, whether they complied with relevant law, and what regulatory agencies learned.
Warren similarly expressed the need for the bill’s passage.
“The bipartisan Epstein Wall Street Records Act will ensure overdue accountability for the wealthy and well-connected on Wall Street who put profits over people,” she said.
“The Epstein Files Transparency Act forced the Attorney General to release DOJ, FBI, and U.S. Attorney’s Offices’ files,” Massie said, referring to a bill that was passed into law last year. “This bill does the same for bank regulators. Justice for the survivors means following the money.”
During the 2024 presidential campaign, Donald Trump pledged to release files relating to investigations of Epstein, despite the two of them formerly having a very close friendship. After taking office in January 2025, however, Trump balked at disclosing the records, and harshly criticized anyone pointing out that he was breaking his campaign promise, calling those pushing for the release of the files part of a “hoax” against him.
Only after months of pressure did Trump finally acquiesce, signing into law the Epstein Files Transparency Act. Still, after signing the bill, Trump continued to deride the issue as a “Democrat Hoax.”
After the bill’s passage there continued to be delays in the release of the files, which included many mentioning Trump’s connections to Epstein and sexual allegations against the president. Millions of documents relating to Epstein remain unpublished, with many of those that have been made public featuring heavy redactions, in spite of the law’s demand for greater transparency.
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Chris Walker is a news writer at Truthout, based in Madison, Wisconsin. Focusing on both national and local topics since the early 2000s, he has produced thousands of articles analyzing the issues of the day and their impact on people. He can be found on most social media platforms under the handle @thatchriswalker.
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Fonte: Truthout
