Pedophile Financial Accountability Act

Investigation of banks' Epstein reporting

This bill would require the Director of the Financial Crimes Enforcement Network (FinCEN) to investigate whether banks or bank employees failed to properly screen and report suspicious transactions tied to Jeffrey Epstein. The probe would examine delays and underreporting of suspicious activity reports, large cash withdrawals, deposits and wire transfers, use of section 314(b) screening, and senior executives' conduct, and it specifically names JPMorgan Chase and Bank of America. Not later than 100 days after enactment, the Director would report findings to Congress and would be allowed to include information from suspicious activity reports even if other laws usually limit that sharing. Where appropriate, the Director would refer individual employees to the Attorney General for possible criminal investigation.