Lawmakers led by Elizabeth Warren and Robert Garcia have proposed a bill to force US regulators to release records on banks and executives linked to Jeffrey Epstein and to investigate possible wrongdoing.
01Summary
- 01The legislation was introduced on Thursday by Sen. Elizabeth Warren and Rep. Robert Garcia.
- 02It would require regulators to produce records related to Jeffrey Epstein and investigate banks and executives with ties to him.
- 03The proposal would also allow industry bans and civil penalties for those found to have aided Epstein.
- 04House co-leads include Ro Khanna, Thomas Massie and Raja Krishnamoorthi, while Senate supporters include Richard Blumenthal, Ron Wyden and Ben Ray Lujan.
- 05The measure would apply to the Federal Reserve, FDIC, the Treasury's Office of the Comptroller of the Currency and the SEC.
02Why it matters
The bill could force new disclosure and scrutiny over whether financial firms helped Epstein's sex trafficking operation. That may increase legal and reputational risks for any banks or executives named in the records.
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