Cortez Masto, Banking Committee Democrats Call on Chairman to Hold Hearing on Financial System Enabling of Jeffrey Epstein

Washington, D.C. - U.S. Senator Catherine Cortez Masto (D-Nev.) joined Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, to urge the Committee Chairman, Senator Tim Scott (R-SC), to immediately hold a hearing regarding Jeffrey Epstein's use of the U.S. financial system.

The senators' request comes in light of recent reporting on JPMorgan's extended business relationship with Mr. Epstein. Senators Cortez Masto and Warren were joined by eight of their Democratic colleagues on the Senate Banking, Housing, and Urban Affairs Committee.

"JPMorgan, for example, reportedly opened at least 134 accounts and processed over $1 billion in transactions for Mr. Epstein-despite warnings by bank employees that doing so could enable Mr. Epstein's crimes," the Banking Committee senators began. "The Committee should call employees of financial institutions that worked with Mr. Epstein, including JPMorgan CEO Jamie Dimon, to testify under oath about the extent to which their banks may have enabled Mr. Epstein's crimes. This testimony will help inform congressional efforts to ensure that our banking system has adequate safeguards against illicit activity."

"Congress must understand the vulnerabilities to our financial system that criminals like Mr. Epstein can exploit," they continued. "As the Trump Administration takes steps to loosen safeguards-such as rolling back anti-money laundering rules, halting enforcement of laws to combat anonymous shell companies, and firing bank examiners-our understanding of these vulnerabilities is more important than ever. This recent report makes clear: we need more transparency, not less."

"The American people deserve to know what happened at JPMorgan and other banks that financed Mr. Epstein," they concluded. "The Committee should hold a public hearing as soon as possible to examine failures and advance reforms that protect our communities."

The full text of the letter can be found here.

Senator Cortez Masto has fought to prevent human trafficking and deliver justice for the survivors of sexual violence since her time as Nevada's attorney general. Prior to the upcoming 2026 FIFA World Cup and before the 2024 Super Bowl LVII, Cortez Masto urged FIFA and the NFL, respectively, to take steps to prevent human trafficking at the events. Her bipartisan federal bill to help train law enforcement to identify and prevent human trafficking through airports was signed into law. She recently called on Congress to provide more funding to support the Crime Victims fund, which provides services and resources for survivors of sexual assault.

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