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JPMorgan Chase recently issued a public rebuttal after President Donald Trump directed the Department of Justice to investigate the bank’s past connection to disgraced financier Jeffrey Epstein.
Knewz.com has learned that the order came as new documents and congressional scrutiny renewed questions about Epstein’s network, including politicians, financiers and major institutions.
Trump calls for expanded federal investigation
In a Truth Social post, Trump accused Democrats of weaponizing Epstein’s legacy and said the Justice Department should examine ties between Epstein and high-profile figures and institutions.
“I will be asking A.G. Pam Bondi, and the Department of Justice… to investigate Jeffrey Epstein’s involvement and relationship with Bill Clinton, Larry Summers, Reid Hoffman, J.P. Morgan, Chase, and many other people and institutions,” he wrote.
He called the scrutiny surrounding Epstein “another Russia, Russia, Russia Scam” and argued that records point to Democrats, not Republicans, as central in Epstein’s orbit.
Congress presses banks for answers
Rep. Jamie Raskin (D-MD) sent inquiries to JPMorgan Chase and other financial institutions in October, asking whether they could explain how Epstein and associates used their systems to move more than $1.5 billion in suspicious transactions over several years.
Newly released court records and a Senate Finance Committee memo claim that JPMorgan Chase failed to report Epstein’s activity properly for nearly 20 years.
Sen. Ron Wyden wrote that the recently unsealed court records “contain evidence that JPMC underreported Epstein’s suspicious transactions to the federal government for nearly two decades.”
The memo states that while the bank filed seven suspicious activity reports between 2002 and 2016, it later reported more than 5,000 questionable transfers worth $1.3 billion after Epstein’s 2019 arrest.
JPMorgan Chase responds to escalating scrutiny
The bank outright rejected allegations of negligence.
In a statement read on CNN, JPMorgan Chase said, “We regret any association we had with the man, but did not help him commit his heinous acts. We ended our relationship with him years before his arrest.”
Spokesperson Patricia Wexler added that the institution “acted appropriately” and reported concerns as early as 2002.
The New York Times reported that JPMorgan Chase flagged tens of millions in late-stage suspicious transactions shortly after Epstein’s death.
Congress orders release of Epstein files
Recently, Congress overwhelmingly passed a bill requiring the U.S. Justice Department to release all remaining files on Epstein, including flight logs, seized materials, internal DOJ communications and interview transcripts.
The House approved it 427-1, and the Senate moved it forward without debate.
President Trump, who previously opposed the release and aligned with GOP leadership – calling it a “Democrat hoax” – reversed course, arguing there is “nothing to hide.”
Attorney General Pam Bondi said the department would follow the law with “maximum transparency” while protecting victims.
The newly released Epstein emails referenced Trump by name, including one describing him as “dirty Donald.”
However, Trump has denied wrongdoing and has not been accused of criminal conduct.
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