Democrats plan investigations into JPMorgan's Epstein relationship

Summarised from 3 outlets · Updated 5 Nov, 21:46 · Archive

Senate Democrats plan to investigate JPMorgan Chase's banking relationship with Jeffrey Epstein once they take control of Congress in January. The Senate Finance Committee, likely to be chaired by Ron Wyden of Oregon, will scrutinise how the bank's executives handled Epstein, who was a major client for about 15 years. The committee's Democratic staffers intend to focus particularly on decisions made by Mary Erdoes, chief executive of the bank's Asset & Wealth Management business, according to a source familiar with the committee's thinking.

Epstein was a major client of JPMorgan for approximately 15 years. The bank dropped him in 2013, five years after he pleaded guilty to soliciting prostitution from a minor in 2008. Epstein died by suicide in a Manhattan jail cell in 2019 weeks after being charged with human trafficking.

Wyden, currently the Finance Committee's ranking member, has made clear he plans to make full use of the subpoena powers that committee majorities wield. Democrats are openly preparing these investigations following their victories in Tuesday's midterm elections, which gives them control of the Senate.

JPMorgan did not immediately respond to requests for comment on the planned investigation. The New York Post reports that Democrats are also considering hauling executives from other Wall Street giants before Congress as part of broader investigations into multiple sectors.

How it is being reported

• Dems could grill JPMorgan on Jeffrey Epstein ties once they take control of Congress; committee crows, ‘Let’s f–king go’Democrats are reportedly preparing to investigate JPMorgan’s banking relationship with late financier and sex offender Jeffrey Epstein -- and are considering hauling execs at other Wall Street giants before Congress once they take control in January.New York Post · 5 Nov, 21:18
• Democrats to probe JPMorgan's relationship with Epstein when they take Senate controlDemocrats are preparing to put a spotlight back on Epstein as part of sweeping investigations following their wipeout victories in Tuesday's midterm elections.CNBC · 5 Nov, 14:58
• Back in the majority, Democrats have plans for a long list of Trump investigationsDemocrats will have the ability to subpoena records and compel individuals to testify. The Epstein files, Elon Musk, the Iran war and Trump's business interests may all come under the microscope.NPR · 4 Nov, 17:38

In this story: JPMorgan Chase · Jeffrey Epstein · Ron Wyden · Mary Erdoes · Senate Finance Committee

This summary was written by AI from the headlines and standfirsts above, and states as fact only what at least two outlets report. How we use AI · Report a problem · Corrections log