House Oversight Committee subpoenas banks, Biden family associates in probe of finances

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The House Oversight Committee issued subpoenas to banks asking for Biden family associates' financial records.

Fox News has confirmed that the Oversight Committee subpoenaed Bank of America, Cathay Bank, JPMorgan Chase, and HSBC USA N.A., as well as former Hunter Biden business associate Mervyn Yan, asking for financial records.

Rep. Jamie Raskin, D-Md., the top Democrat on the Oversight Committee, complained that Committee Chairman James Comer, R-Ky., was trying to hide information regarding the investigation from Democrats on the committee.

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House Committee on Oversight and Accountability Chairman James Comer, R-Ky., leads an organizational meeting for the 118th Congress at the Capitol in Washington, D.C., on Jan. 31, 2023. (AP Photo/J. Scott Applewhite)

In a statement to Fox News, Comer said "Ranking Member Raskin has again disclosed 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. No one should be fooled by Ranking Member Raskin’s games. We have the bank records, and the facts are not good for the Biden family."

President Biden and his son, Hunter Biden, step off Air Force One at Hancock Field Air National Guard Base in Syracuse, N.Y., on Feb. 4, 2023. (AP Photo/Patrick Semansky)

The Oversight Committee Democratic staff sent a memo to members on Thursday which accuses Republicans of conducting their investigation behind a "veil of secrecy."

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"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," the memo states.

The Democratic memo alleges that Republicans haven't been publicizing their subpoenas or notifying Democrats, which has purportedly resulted in some targets of subpoenas being unaware that the committee is seeking their records.

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President Biden speaks during the annual House Democrats Issues Conference at the Hyatt Regency Hotel in Baltimore on March 1, 2023. (Drew Angerer/Getty Images)

"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," the memo states.

A spokesperson for Cathay Bank told Fox News Digital that the bank will cooperate 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 to cooperate with the committee," the spokesperson said.

EDITOR'S NOTE: This story has been updated to reflect subpoenas are for Biden family associates.