The House Oversight Committee has issued subpoenas to banks and a former Hunter Biden business associate asking for financial records. The investigation is part of the Republicans’ ongoing probe into the Biden family. However, Democrats have accused Republicans of conducting their investigation behind a “veil of secrecy” and not notifying them or the subpoena targets.
The Oversight Committee Subpoenas Banks and Business Associates
Subpoenas have been issued by the House Oversight Committee to Bank of America, Cathay Bank, JPMorgan Chase, and HSBC USA N.A., as well as to Mervyn Yan, a former business associate of Hunter Biden, for financial information, as reported by Fox News. The subpoenas were issued as part of the Republicans’ ongoing investigation into the Biden family. However, Democrats on the committee accused Republicans of conducting their investigation behind a “veil of secrecy” and not notifying them or the subpoena targets.
The Democratic memo alleges that Republicans have failed to yield any evidence of misconduct by President Biden. The memo accuses Republicans of basing some of their subpoenas on false information. In addition, the memo alleges that Chairman Comer issued a secret subpoena for John R. Walker’s financial records from Bank of America without notifying him.
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Bank of America and Cathay Bank to cooperate with subpoenas
Cathay Bank has announced its cooperation with the Oversight Committee’s request for information, according to a spokesperson. The bank, which has been a U.S. financial institution for over 60 years, intends to continue to cooperate with the committee. However, it is unclear what specific financial records the Oversight Committee is seeking or how they are related to the Biden family.
Bank of America has not yet commented on the subpoena but issued a statement saying it takes its legal obligations seriously and reviews each subpoena carefully. The bank also said it is committed to protecting customer data and privacy while cooperating with all valid and binding legal requests.
The investigation is ongoing, and the Oversight Committee has yet to release any further information regarding the subpoenas.
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