US lawmakers have introduced a new bill aimed at holding Wall Street executives connected to Jeffrey Epstein accountable for their roles in financing his crimes. This move follows Senator Elizabeth Warren's condemnation of Barclays for its inadequate response regarding former CEO Jes Staley's ties to the late sex offender.
The Epstein Wall Street Records Act
On Thursday, a bipartisan group of politicians, led by Warren and House Representative Robert Garcia, announced the introduction of the Epstein Wall Street Records Act. This legislation comes after a months-long investigation into Epstein, who died in prison in 2019 while awaiting trial on child sex-trafficking charges.
If passed, the bill would require regulators, including the Federal Reserve and the Securities and Exchange Commission, to investigate financial firms and executives linked to Epstein for potential violations of banking and investment laws. It would also empower regulators to impose fines or ban wrongdoers from the US financial sector.
Key Provisions of the Bill
- Investigate “Epstein connected” financial firms and executives.
- Publicly disclose records related to Epstein and his associates.
- Refer potential criminal violations to the US Justice Department.
Warren stated, “Since the big banks won’t hold themselves accountable – and the Trump administration won’t either – Congress must act to force real transparency and accountability for them and their executives who enabled Jeffrey Epstein’s crimes.”
