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Press Release Published: Jul 6, 2022

Comer: Treasury Hiding Reports Generated for Biden Family’s Suspicious Foreign Business Deals

WASHINGTON—House Committee on Oversight and Reform Ranking Member James Comer (R-Ky.) today renewed his request to Department of Treasury Secretary Janet Yellen for information regarding Hunter Biden and other Biden associates and family members’ suspicious foreign business transactions flagged by U.S. banks and called for all documents, communications, and records related to these transactions to be preserved. The Biden Administration has publicly asserted it provides suspicious activity reports (SARs) to Congress, but it is refusing to provide any reports generated for the Biden family and Biden associates to Ranking Member Comer.

“The Biden Administration is restricting Congress’ access to SARs, and Committee Republicans are investigating whether this change in longstanding policy is motivated by efforts to shield Hunter Biden and potentially President Biden from scrutiny. Though the Committee requested documents and information ‘no later than June 8, 2022,’ the Department of the Treasury has provided no documents or information,” wrote Ranking Member Comer.

On May 25, 2022, Ranking Member Comer initially wrote to Secretary Yellen requesting information regarding Hunter Biden and other Biden associates and family members’ financial transactions flagged by U.S. banks for reporting to the Financial Crimes Enforcement Network through suspicious activity reports. Despite Treasury’s assertion in the press that it provides SARs to Congress, Treasury is refusing to release SARs connected with Hunter Biden or his family and associates.

“According to the Wall Street Journal, the Biden Administration claimed, ‘Treasury has made SARs available for every request we’ve received, regardless of party, and will continue to do so.’  This is not true. During a phone call on June 13, 2022, Treasury officials informed Committee Republican staff that they will not provide SARs to Committee Republicans unless Democrats join the request. It is troubling that the Biden Administration is willing to provide a false story to the media to create the appearance of transparency while continuing to thwart congressional oversight,” continued Ranking Member Comer. “The American people deserve to know whether the President’s connections to his son’s business deals occurred at the expense of the United States’ interests and whether they represent a national security threat.”

The letter to Secretary Yellen can be found here.