House Oversight Committee Subpoenas Biden Family Associates, Banks in Probe of Finances

The House Oversight Committee issued subpoenas to specific banks requesting the bank records of Biden family associates’ financial records. They subpoenaed Cathay Bank, HSBC USA N.A., Bank of America, and JPMorgan Chase, along with Mervyn Yan, a business associate of Hunter Biden, and asked for financial records. 

Democrat Representative Jamie Raskin of Maryland, who serves as the top Dem on the Oversight Committee and complained that GOP Representative and Committee Chairman James Comer of Kentucky was attempting to conceal information about the investigation from committee Democrats, said, “Ranking Member Raskin has again disclosed the Committee’s subpoenas in a cheap attempt to thwart cooperation from other witnesses.

Given his antics with the first bank subpoena, the American people and media should be asking what information Ranking Member Raskin is trying to hide this time. Ranking Member Raskin’s games should fool no one. We have the bank records, and the facts are not good for the Biden family.”

Dems: Accuse Republicans of investigating in a “veil of secrecy”

On Thursday, the Democratic staff of the Oversight Committee sent a memo to members accusing Republicans of conducting their investigation in a “veil of secrecy.”

“Despite this massive investment of time and resources, Republican efforts on this and other congressional committees have failed to yield any evidence of misconduct by President Biden. Nevertheless, Chairman Comer has issued six document subpoenas for financial records as part of this renewed investigation, several of which have been based on information Committee Republicans know to be false,” stated the memo. 

The Dem memo alleges that the GOP hasn’t publicized the subpoenas or notified Democrats, which resulted in some of the subpoena targets remaining unaware of the requests for their records.

“On February 27, 2023, Chairman Comer secretly issued the Committee’s first document subpoena as part of Committee Republicans’ ongoing investigation into the Biden family to Bank of America. This subpoena sought, among other information, “all financial records” from January 20, 2009, to the present — a staggering 14-year period — for John R. Walker, a private U.S. citizen…Yet, because of Chairman Comer’s use of a secret subpoena, Mr. Walker was never notified that the Committee had subpoenaed his financial records from Bank of America, he was never notified that Bank of America turned over his records to the Committee, and he was never notified that the Committee was publicly releasing information from these records,” stated the memo.

A Cathay Bank spokesperson said the bank would continue cooperating with the Oversight Committee.

“Cathay Bank, a NASDAQ-listed, U.S. financial institution for over 60 years, has cooperated with the House Committee on Oversight and Accountability’s request for information. The bank intends to continue cooperating with the Committee,” said the spokesperson.