US lawmakers have unveiled a new bill to hold Wall Streetâs âEpstein-connectedâ bosses to account for helping finance the late sex offenderâs crimes.
It came as top Democratic senator Elizabeth Warren condemned the UK bank Barclays for âdodging responsibilityâ over its failure to vet former boss Jes Staley and his ties to the once well-connected billionaire.
A bipartisan group of politicians, led by Warren and House representative Robert Garcia, are introducing a bill on Thursday known as the Epstein Wall Street Records Act.
The bill follows a months-long investigation into the financier, who died in prison in 2019 while awaiting trial on child sex-trafficking charges.
IF passed, the bill would force regulators including the Federal Reserve and the Securities and Exchange Commission to investigate âEpstein connectedâ financial firms and executives for potential breaches of banking, investment or illicit funding laws; and fine or even ban wrongdoers from the US financial sector.
The bill â which is also being backed by House Republican Thomas Massie â will also force regulators to publicly disclose any records relating to Epstein and his associates; and refer any potential criminal violations to the US justice department.
Warren said: âSince the big banks wonât hold themselves accountable â and the Trump administration wonât either â Congress must act to force real transparency and accountability for them and their executives who enabled Jeffrey Epsteinâs crimes.â
News of the bill came as Warren condemned the bosses at Barclays, one of the UKâs biggest banks, over their failure to adequately answer questions about its former chief executives Jes Staley and his links to Epstein.
Staleyâs ties with the well-connected billionaire spelled the end of his career. The American banker resigned from Barclays in November 2021, after UK regulators started investigating the true nature of his relationship with Epstein, whom he met in 2000 during his three-decade stint at JP Morgan.
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