Washington, D.C. (October 20, 2023)—Today, Rep. Jamie Raskin, Ranking Member of the Committee on Oversight and Accountability, released a fact sheet and the following statement on bank records obtained by the Oversight Committee that continue to show President Biden was not involved in his family’s business ventures: 
 

“As everyone knows, Committee Republicans have uncovered no evidence of wrongdoing by President Biden and, last month, even their hand-picked witnesses at their first impeachment hearing testified that they saw no evidence of a crime, much less an impeachable one.  Nothing has changed.  The more than 1,400 pages of additional bank records just show what these witnesses and thousands of prior pages of records have already established:  that the President was not involved in and did not profit from his family members’ business ventures.  These records actually show that President Biden was the one who stepped in to help family members when they needed support, including by providing short term loans to his brother.

“Committee Republicans’ most recent subpoenas are comically abusive in their breadth and scope, blindly seeking a decade’s worth of private citizens’ financial records.  While not a single transaction shows any wrongdoing by the President, they do reveal personal transactions of the President’s family members that have no relevance to any legitimate congressional inquiry, including payments for things like groceries, vet visits, and plumbing repairs, and include multiple college savings accounts and one youth bank account for grandchildren of the President.  It’s time to end this embarrassing and privacy-violating wild goose chase.”

Key Findings from Oversight Democrats’ Fact Sheet:

The Oversight Committee received an initial production of more than 1,400 pages from three banks in response to Chairman Comer and Chairman Jordan’s recent subpoenas for bank records of private citizens, including members of the President’s family. 

These records continue to show President Biden was not involved in his family members’ business ventures and do not show him making a single dime from these ventures.

• Committee Republicans have now received more than 14,000 pages of bank records as part of their Biden family probe.  Not a single transaction shows any wrongdoing by the President.

• The records recently received from three banks are in response to subpoenas issued by Chairman Comer and Chairman Jordan seeking a decade’s worth of bank statements for personal and business accounts owned by Hunter Biden, James Biden, and others, all of whom were, and continue to be, private citizens. 

• These bank records continue to show the President was not involved in and did not profit from his family members’ business dealings, which have long been public record.

• In fact, these bank records undermine Committee Republicans’ baseless allegations that President Biden profited from his family’s business dealings.  As has long been widely known, President Biden has helped family members in times of need, including his son and brother.  These bank records show that in 2017 and 2018, while President Biden was not in office, he provided two short-term loans to his brother, James, who repaid each loan within two months.

• The bank records produced as part of these initial productions emphasize the extraordinary overbreadth of these subpoenas, which seek a decade’s worth of “all financial records” belonging to private citizens.  These documents include accounts and highly personal transactions of the President’s family members that clearly have no relevance to any legitimate congressional inquiry.  For example, they reflect payments for things like life insurance policies, doctor visits, holiday and birthday presents, groceries, vet visits and pet care, and plumbing repairs, and include information regarding multiple college savings accounts and one youth bank account for grandchildren of the President.

See here for the full fact sheet.

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