New House Oversight Committee Chair Rep. James Comer, R-Ky., on Wednesday demanded the Treasury Department release all suspicious activity reports generated by banks linked to Hunter Biden, launching the GOP's long-awaited probe into President Joe Biden and his family's finances.
"The Committee is investigating President Biden's knowledge of and role in these schemes to assess whether he has compromised our national security at the expense of the American people," Comer said in a letter to Treasury Secretary Janet Yellen. "Additionally, we will examine drafting legislation to strengthen federal ethics laws regarding employees and their families."
"We will also examine and make recommendations regarding federal laws and regulations to ensure that financial institutions have the proper internal controls and compliance programs to alert federal agencies of potential money laundering activity," he added.
The Treasury Department in May said it "provides [suspicious activity reports] to Congress in a manner that enables robust oversight and that is consistent with how other sensitive law enforcement information is produced. Treasury has made SARs available for every request we've received, regardless of party, and will continue to do so."
But Comer says that's not true.
"Treasury's lack of a substantive response to Republican requests for SARs and other information in the 117th Congress indicates that Treasury's leadership abandoned this policy at a similar time when we requested information regarding the Biden family," he said in the letter to Yellen.
Finances of the younger Biden have been a focus for Republicans for several years. Now, with control of the House, GOP lawmakers can hold hearings and issue subpoenas.
Hunter Biden hasn't been charged with any criminal activity, though federal prosecutors have called several of his business associates and other witnesses in to testify before a grand jury looking into whether he violated tax or other laws through his business relationships in China, Ukraine, Kazakhstan, and elsewhere.
Solange Reyner ✉
Solange Reyner is a writer and editor for Newsmax. She has more than 15 years in the journalism industry reporting and covering news, sports and politics.
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