[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 4338 Introduced in Senate (IS)]
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119th CONGRESS
2d Session
S. 4338
To require the Director of the Financial Crimes Enforcement Network of
the Department of the Treasury to carry out an investigation regarding
whether financial institutions violated certain provisions of title 31,
United States Code, with respect to transactions involving Jeffrey
Epstein, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
April 16 (legislative day, April 14), 2026
Mr. Wyden introduced the following bill; which was read twice and
referred to the Committee on Banking, Housing, and Urban Affairs
_______________________________________________________________________
A BILL
To require the Director of the Financial Crimes Enforcement Network of
the Department of the Treasury to carry out an investigation regarding
whether financial institutions violated certain provisions of title 31,
United States Code, with respect to transactions involving Jeffrey
Epstein, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Pedophile Financial Accountability
Act''.
SEC. 2. FINCEN INVESTIGATION AND REPORT; REFERRALS TO ATTORNEY GENERAL.
(a) Definitions.--In this section:
(1) Bank secrecy act.--The term ``Bank Secrecy Act'' means
subchapter II of chapter 53 of title 31, United States Code.
(2) Director.--The term ``Director'' means the Director of
FinCEN.
(3) Employee.--The term ``employee'' means an employee of a
financial institution.
(4) Financial institution.--The term ``financial
institution'' has the meaning given the term in section 5312(a)
of title 31, United States Code.
(5) FinCEN.--The term ``FinCEN'' means the Financial Crimes
Enforcement Network of the Department of the Treasury.
(6) Suspicious activity report.--The term ``suspicious
activity report'' means a report required under section 5318(g)
of title 31, United States Code.
(b) Investigation.--
(1) In general.--The Director shall conduct an
investigation into potential violations of the Bank Secrecy Act
by financial institutions and employees relating to the
handling of transactions involving Jeffrey Epstein.
(2) Requirements.--The investigation required under
paragraph (1) shall include an examination of--
(A) whether employees violated the Bank Secrecy Act
by failing to properly screen and report suspicious
activity to FinCEN in a timely manner, as required
under the Bank Secrecy Act;
(B) the facts and circumstances surrounding
significant delays in the filing of suspicious activity
reports, and the significant underreporting of
suspicious activity reports, by financial institutions,
including JPMorgan Chase and Bank of America, in
relation to large cash withdrawals, deposits, and wire
transfers to and from accounts maintained by--
(i) Jeffrey Epstein; or
(ii) co-conspirators of Jeffrey Epstein;
(C) decisions by financial institutions to wait
substantial periods of time before reporting the full
extent of suspicious activity of Jeffrey Epstein to the
Department of the Treasury;
(D) whether individual employees asked for any
business records or documents substantiating the
economic or business purpose of large payments made by
Jeffrey Epstein to his clients, including Leon Black,
Les Wexner, and others;
(E) whether financial institutions ever asked any
wealthy individuals to provide records substantiating
claims that multi-million dollar payments to Jeffrey
Epstein were for purported tax and estate planning
services;
(F) whether financial institutions used authorities
granted under section 314(b) of the USA PATRIOT Act (31
U.S.C. 5311 note) to screen large transfers to accounts
maintained by Jeffrey Epstein; and
(G) the conduct of senior executives of major
financial institutions in relation to allowing
employees to continue working with Jeffrey Epstein,
even after exiting Epstein as a client over money
laundering concerns.
(c) Report.--
(1) In general.--Not later than 100 days after the date of
enactment of this Act, the Director shall submit to Congress a
report regarding the outcome of the investigation required
under subsection (b).
(2) Permissible information.--Notwithstanding any other
provision of law or regulation, the report required under
paragraph (1) may contain information obtained from suspicious
activity reports filed with FinCEN in relation to transactions
that moved funds in and out of accounts maintained by Jeffrey
Epstein.
(d) Referral to Attorney General.--Where appropriate, the Director
shall make a referral to the Attorney General regarding any employee
who the Director determines merits further investigation in connection
with a potentially willful violation of the Bank Secrecy Act or other
Federal anti-money laundering laws.
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