Warren Introduces Act to Probe Banks' Epstein Ties

Senator Elizabeth Warren and Representative Robert Garcia introduced the Epstein Wall Street Records Act to hold financial institutions accountable for enabling the crimes of Jeffrey Epstein. The legislation requires federal financial regulators, including the Federal Reserve, to investigate banks and executives who conducted business with Epstein and to make criminal referrals to federal prosecutors.

The bill also mandates the public release of all regulatory records concerning Epstein and his associates. The effort follows a report from Senator Ron Wyden regarding Wall Street's failure to notify regulators of Epstein's transactions. While the measure has the support of 20 House Democrats, four Senate Democrats, and Republican Representative Thomas Massie, it is unlikely to pass before the upcoming midterm elections.

This legislative push follows more than $437 million in class-action settlements paid by Bank of America, Deutsche Bank, and JPMorgan Chase. Despite these settlements, Deutsche Bank is the only institution to have faced regulatory penalties for failing to monitor Epstein's affairs.