Wyden plans subpoenas for banks tied to Epstein once Democrats take Senate in January

Senate Democrats are preparing to investigate JPMorgan Chase's banking relationship with Jeffrey Epstein once they take control of Congress early next year, CNBC reported, citing a source. Staff on the Senate Finance Committee want to look at how top bank executives handled Epstein as a client ¹.

Sen. Ron Wyden, an Oregon Democrat, is likely to chair that committee starting in January. He has said he plans to use its subpoena powers, which let a committee demand documents and testimony ¹.

What Democrats want to know

Staffers are especially interested in decisions by Mary Callahan Erdoes, CEO of JPMorgan's asset and wealth management division ¹. In a 2023 deposition, Erdoes said she knew as early as 2006 that Epstein was accused of paying cash to have underage girls brought to his home. Epstein had been a bank client since 1998 ¹.

CEO Jamie Dimon said Erdoes had the authority to cut Epstein off as a client. She did not do so until 2013 ¹.

From Channel GOPEpstein was a convicted sex offenderJamie Raskin · 1.9K plays · captioned, with the source named

American Banker reported that, as chair, Wyden could subpoena private-sector figures, including bank CEOs. He could also call executives to testify under oath about their personal relationships with Epstein ².

will be forced to answer to the Senate Finance Committee for their role in hurting the American people

The earlier report

On Aug. 4, Wyden released a report titled "Looking the Other Way," which ended a four-year investigation. It alleges that top bankers at several Wall Street banks helped Epstein move hundreds of millions of dollars and delayed reporting his suspicious activity to the government ³.

The report names JPMorgan Chase, Deutsche Bank and Bank of America ³. According to American Banker, it alleges the three banks likely broke federal anti-money-laundering laws ². Those are rules requiring banks to flag suspicious transactions to the government.

The banks have repeatedly called Wyden's assertions false and politically motivated, American Banker reported ². JPMorgan declined to comment to CNBC. It has said before that it "regrets any association with Epstein" but did not help him commit crimes ¹.

The record so far

JPMorgan paid $290 million to Epstein victims in mid-2023 without admitting wrongdoing. It also agreed to pay $75 million to settle a U.S. Virgin Islands lawsuit that year ¹.

Epstein pleaded guilty in 2008 in Florida to a state charge of procuring an underage girl for prostitution. He died in a jail cell in August 2019, and his death was ruled a suicide ¹. Trump's name appears thousands of times in the released Justice Department Epstein files. He has not been charged with any wrongdoing related to Epstein ¹.

Last month, Sen. Elizabeth Warren of Massachusetts and Rep. Robert Garcia of California, both Democrats, introduced a bill. It would require regulators to identify and penalize institutions and executives that profited from or ignored red flags in Epstein's finances, and to release related records ².

What happens next

The new Congress is seated in January. Wyden's committee would then decide whom to subpoena. The reporting so far describes planned inquiries, not findings against any current executive.

That matters because the Epstein fight has so far centered on government files. A bank investigation would focus on the money, and on whether private companies had to answer for what they knew. Wyden's own report calls that approach following the money ³.

Wyden also said the same committee would go after other industries, naming insurers and pharmaceutical CEOs ². The Finance Committee also oversees Medicare, Medicaid and Social Security ².

The Record

1. Jun 30, 2023JPMorgan paid $290 million to Epstein victims in mid-2023 without admitting wrongdoing ¹.
2. Aug 4, 2026Wyden released "Looking the Other Way," ending a four-year investigation into banks and Epstein ³.
3. Nov 5, 2026CNBC reported Senate Democrats are preparing a JPMorgan probe for early next year ¹.

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<h2>Wyden plans subpoenas for banks tied to Epstein once Democrats take Senate in January</h2> <p><em>By The GOP Files Investigations Desk. This article first appeared on <a href="https://thegopfiles.com/story/wyden-plans-subpoenas-for-banks-tied-to-epstein-once-democrats-take-senate-in-january">The GOP Files</a> on Wednesday, November 11, 2026.</em></p> <p>Senate Democrats are preparing to investigate JPMorgan Chase&#39;s banking relationship with Jeffrey Epstein once they take control of Congress early next year, CNBC reported, citing a source. Staff on the Senate Finance Committee want to look at how top bank executives handled Epstein as a client .</p> <p>Sen. Ron Wyden, an Oregon Democrat, is likely to chair that committee starting in January. He has said he plans to use its subpoena powers, which let a committee demand documents and testimony .</p> <h2>What Democrats want to know</h2> <p>Staffers are especially interested in decisions by Mary Callahan Erdoes, CEO of JPMorgan&#39;s asset and wealth management division . In a 2023 deposition, Erdoes said she knew as early as 2006 that Epstein was accused of paying cash to have underage girls brought to his home. Epstein had been a bank client since 1998 .</p> <p>CEO Jamie Dimon said Erdoes had the authority to cut Epstein off as a client. She did not do so until 2013 .</p> <p>American Banker reported that, as chair, Wyden could subpoena private-sector figures, including bank CEOs. He could also call executives to testify under oath about their personal relationships with Epstein .</p> <blockquote><p>will be forced to answer to the Senate Finance Committee for their role in hurting the American people</p><p>&mdash; Ron Wyden, U.S. senator, D-Oregon</p></blockquote> <h2>The earlier report</h2> <p>On Aug. 4, Wyden released a report titled &quot;Looking the Other Way,&quot; which ended a four-year investigation. It alleges that top bankers at several Wall Street banks helped Epstein move hundreds of millions of dollars and delayed reporting his suspicious activity to the government .</p> <p>The report names JPMorgan Chase, Deutsche Bank and Bank of America . According to American Banker, it alleges the three banks likely broke federal anti-money-laundering laws . Those are rules requiring banks to flag suspicious transactions to the government.</p> <p>The banks have repeatedly called Wyden&#39;s assertions false and politically motivated, American Banker reported . JPMorgan declined to comment to CNBC. It has said before that it &quot;regrets any association with Epstein&quot; but did not help him commit crimes .</p> <h2>The record so far</h2> <p>JPMorgan paid $290 million to Epstein victims in mid-2023 without admitting wrongdoing. It also agreed to pay $75 million to settle a U.S. Virgin Islands lawsuit that year .</p> <p>Epstein pleaded guilty in 2008 in Florida to a state charge of procuring an underage girl for prostitution. He died in a jail cell in August 2019, and his death was ruled a suicide . Trump&#39;s name appears thousands of times in the released Justice Department Epstein files. He has not been charged with any wrongdoing related to Epstein .</p> <p>Last month, Sen. Elizabeth Warren of Massachusetts and Rep. Robert Garcia of California, both Democrats, introduced a bill. It would require regulators to identify and penalize institutions and executives that profited from or ignored red flags in Epstein&#39;s finances, and to release related records .</p> <h2>What happens next</h2> <p>The new Congress is seated in January. Wyden&#39;s committee would then decide whom to subpoena. The reporting so far describes planned inquiries, not findings against any current executive.</p> <p>That matters because the Epstein fight has so far centered on government files. A bank investigation would focus on the money, and on whether private companies had to answer for what they knew. Wyden&#39;s own report calls that approach following the money .</p> <p>Wyden also said the same committee would go after other industries, naming insurers and pharmaceutical CEOs . The Finance Committee also oversees Medicare, Medicaid and Social Security .</p> <p><em>Read the original, with every source linked, at <a href="https://thegopfiles.com/story/wyden-plans-subpoenas-for-banks-tied-to-epstein-once-democrats-take-senate-in-january">thegopfiles.com</a>. Republished under The GOP Files' <a href="https://thegopfiles.com/republish">free republishing terms</a>.</em></p> <img src="https://thegopfiles.com/api/rp/wyden-plans-subpoenas-for-banks-tied-to-epstein-once-democrats-take-senate-in-january.gif" alt="" width="1" height="1" style="border:0;width:1px;height:1px">

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Sources

1. CNBC, “Democrats to probe JPMorgan's relationship with Jeffrey Epstein when they take Senate control” (2026-11-05). cnbc.com/2026/11/05/jpmorgan-epstein-democrats-erdoes-midter
2. American Banker, “Key Senate Democrat vows probe into banks linked to Epstein” (2026-11-04). americanbanker.com/news/key-senate-democrat-vows-probe-into-
3. Senate Finance Committee (Democratic staff), “Wyden releases new report on failure of Wall Street banks to blow the whistle on Jeffrey Epstein's sex trafficking and money laundering schemes” (2026-08-04). finance.senate.gov/ranking-members-news/wyden-releases-new-r

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