Top Senate Democrat takes aim at big banks over Epstein ties

Caitlin Reilly, Bloomberg News on Nov 9, 2026

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WASHINGTON — The incoming Democratic chairman of the Senate Finance Committee signaled three major banks with ties to disgraced financier Jeffrey Epstein would be top investigative targets for the panel when his party takes control next year.

“We’ve got three Wall Street banks who if they had done nothing, nothing except follow the law for years on end, we could’ve stopped Epstein cold,” Senator Ron Wyden told reporters at the Capitol on Monday.

Though Wyden didn’t identify the banks in his comments Monday, he previously released a report concluding Bank of America Corp., JPMorgan Chase & Co. and Deutsche Bank AG enabled Epstein’s illegal activities. Epstein died in a New York jail cell in 2019 following his arrest for sex trafficking.

The three banks did not immediately respond to requests for comment. JPMorgan has said it regretted its association with Epstein. Deutsche Bank has previously said it’s taken steps to improve its controls, while not admitting to wrongdoing. Bank of America also has not admitted to wrongdoing and has said the bank did not facilitate sex trafficking crimes.

Wyden also identified big insurance and pharmaceutical companies as priorities for scrutiny.

The Oregon Democrat laid out a broad agenda for the panel including tax, trade and health matters. That includes an effort to put together a bipartisan coalition to roll back President Donald Trump’s unpopular tariffs.

But with Trump still in the White House and armed with veto power over all legislation, congressional Democrats may be best positioned to wield investigative authority. And Wyden suggested Epstein’s ties to the financial industry are high on his list for potential probes.

Democrats on the Finance committee next year will have congressional subpoena authority to compel testimony and document production.

Congressional oversight carries the risk of reputational damage for firms, especially for executives hauled before committees to testify. Tobacco executives faced lengthy perjury investigations following 1994 testimony on nicotine and addiction. More recently, several presidents of Ivy League Universities resigned following a contentious 2023 hearing on student protests over Gaza.

Wyden also said he would work with Republicans to end Trump’s tariff regime, an area ripe for potential bipartisan collaboration in the next two years even with the president’s veto power over legislation.

“We’re going to push, you know, very hard to build a coalition that can handle a veto,” he said, referring specifically to tariffs Trump imposed on Canada.

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(With assistance from Katherine Chiglinsky.)

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