This bill directs the Treasury Department's Financial Crimes Enforcement Network to investigate whether major banks violated federal anti-money laundering laws in handling financial transactions related to Jeffrey Epstein. The investigation will examine whether banks and their employees failed to properly report suspicious activity, delayed filing required reports, and whether wealthy clients received preferential treatment in scrutiny of large payments to Epstein. Specific institutions named for investigation include JPMorgan Chase and Bank of America, and the investigation will also look at senior executive decisions to continue serving Epstein as a client despite money laundering concerns. The Treasury Department must submit a detailed report to Congress within 100 days of the bill's enactment and may refer any findings of willful violations by individual employees to the Attorney General for potential prosecution. No specific funding amount is designated in the legislation, as the work falls within existing Treasury Department operations.
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