BackDemocrats to probe JPMorgan's relationship with Epstein when they take Senate control

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CNBC1 hour agoPolitics2 min read

Democrats to probe JPMorgan's relationship with Epstein when they take Senate control

Wyden-led Finance Committee to probe bank's handling of Jeffrey Epstein relationship

senate democrats jpmorgan chase jeffrey epstein

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Senate Democrats plan to investigate JPMorgan Chase's banking relationship with Jeffrey Epstein once they control Congress, focusing on decisions by Asset & Wealth Management CEO Mary Erdoes, according to an anonymous source familiar with the Senate Finance Committee's thinking.

AI-generated summary

Why It Matters

Democrats won control of Congress in Tuesday's midterm elections and are preparing sweeping investigations. Ron Wyden, currently ranking member of the Senate Finance Committee, plans to use subpoena powers as committee chair.

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Senate Democrats are gearing up to investigate JPMorgan Chase's banking relationship with disgraced sex offender Jeffrey Epstein once they take control of Congress early next year.

Democratic staffers on the Senate Finance Committee, which is likely to be chaired in the next Congress by Sen. Ron Wyden, D-Ore., intend to home in on how high-ranking executives at the nation's largest bank handled Epstein, a source familiar with the committee's thinking told CNBC on Thursday. The person spoke on condition of anonymity because the probe has not been announced.

They aim to focus in particular on the Epstein-related decisions made by Mary Erdoes, CEO of the bank's Asset & Wealth Management business, according to the source.

JPMorgan did not immediately respond to CNBC's request for comment.

Democrats are openly preparing to put a spotlight back on Epstein as they plan to launch sweeping investigations following their wipeout victories in Tuesday's midterm elections.

Wyden, who is currently the committee's ranking member, has made clear he plans to make full use of the subpoena powers that committee majorities wield.

This is developing news. Please check back for updates.

What to Watch

AI outlook — possibilities, not facts

The Senate Finance Committee will formally announce and launch an investigation into JPMorgan Chase's Epstein relationship after Democrats take control of Congress.
Very likely · Within weeks

Open Questions

What specific Epstein-related decisions by Mary Erdoes will be examined?
When will the investigation be formally announced?
What evidence or witnesses does the committee plan to subpoena?

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