Latest Releases
U.S. Senator Tina Smith Presses JPMorgan CEO for Answers on Bank’s Ties to Jeffrey Epstein
WASHINGTON [5.10.23] – Today, Sen. Tina Smith (D-MN), wrote a letter to JPMorgan Chase’s CEO, Jamie Dimon, demanding answers following recent reports and court filings describing the bank’s financial involvement with Jeffrey Epstein. In her letter, Smith pressed Dimon for the bank’s policies and procedures around identifying and reporting human trafficking after allegations surfaced that JPMorgan ignored obvious signs of Epstein’s illegal activity and maintained its relationship with him against the advice of its own compliance department. “If true, JPMorgan’s decision to turn a blind eye to such egregious misconduct raises serious questions about its role in facilitating Epstein’s abuse, and its willingness or ability to root out and prevent other, less apparent instances of sex trafficking,” wrote Senator Smith According to an April 12 court filing, Epstein was a client at JPMorgan from 1998 to 2013 and maintained upwards of 50 accounts totaling hundreds of millions of dollars. This not only granted him access to exclusive banking and wealth management services, but apparently earned him the bank’s discretion. The filing alleges that in 2006, two years before Epstein was convicted for soliciting a minor for prostitution, a JPMorgan Rapid Response Team flagged internally that Epstein was making cash withdrawals ranging from $40,000 to $80,000 several times per month. By that year, the bank was reportedly aware that Epstein paid cash to have underage girls and young women trafficked to his home. This apparently became an open secret among senior executives, even devolving into a topic of jest. Still, the
Senators Smith, Rounds Unveil Major Bipartisan Package to Modernize and Update Rural Housing Programs
Washington [5.2.23] – This week, Senators Tina Smith (D-MN) and Mike Rounds (R-SD) introduced significant bipartisan legislation to improve federal rural housing programs, cut red tape, and strengthen the supply of affordable housing. The legislation would represent the most significant Rural Housing Service reforms years. “Without a safe, affordable place to live, nothing else in your life works. Not your job, not your education, not your health,” said Senator Smith. “We know that the housing crisis is hurting communities across the country, and the problem is particularly acute in rural places. This legislation is the direct result of bipartisan hearings and conversations with stakeholders who helped identify ways we can make federal rural housing programs work better for people struggling to find a safe, affordable place to live.” “Homeownership is part of the American dream and a key to building wealth,” said Senator Rounds. “Over the past year, Senator Smith and I have held hearings, met with stakeholders and visited with constituents in our states about the hurdles within the U.S. Department of Agriculture’s Rural Housing Service. This legislation makes important improvements and updates to the Rural Housing Service that will create and preserve affordable housing opportunities in South Dakota. As we face an affordable housing crisis across the nation, I look forward to working with my colleagues to get these important, bipartisan updates signed into law.” Lack of affordable housing remains an impediment for many rural towns and communities as they struggle to attract new businesses, residents and
U.S. Sens. Tina Smith, Amy Klobuchar Honor the Storied Life of Minnesota’s First Female Member of Congress, Coya Knutson, with Senate Resolution
MINNESOTA [08/22/18]— Today, Minnesota’s U.S. Sens. Tina Smith and Amy Klobuchar honored the storied life of Minnesota’s first female member Congress, Coya Knutson, with a Senate Resolution heralding her life as a trailblazer who, despite great obstacles when she served in the 1950s, succeeded in making a difference for the families and communities in her state. You can read a copy of the Resolution here. The resolution, offered Wednesday on what would have been Knutson’s 106th birthday, notes that after arriving in Washington, D.C in 1954, she convinced Speaker Sam Rayburn to appoint her to be the first woman ever to serve on the House
Klobuchar, Smith, Reed Call on Administration to Protect U.S. Troops and Families from Financial Fraud
WASHINGTON – U.S. Senators Amy Klobuchar and Tina Smith joined Senator Jack Reed (D-RI) and 46 other senators in calling on the Consumer Financial Protection Bureau (CFPB) to maintain financial protections for servicemembers and their families under the Military Lending Act (MLA). Recent reports have indicated that the Administration is planning to stop examining lenders for violations of the MLA. In their letter, the senators urged CFPB Acting Director Mick Mulvaney not to end its examinations of payday lenders and other financial institutions for MLA compliance, and to not undertake measures that risk leaving U.S. troops and their families vulnerable to exploitation.
U.S. Sen. Tina Smith Presses Swiss Pharmaceutical Giant Novartis to Ensure Improper Company Actions Aren’t Pushing Up U.S. Prescription Drug Prices
WASHINGTON D.C. [08/23/18]— Today, U.S. Sen. Tina Smith (D-Minn.) pushed for answers from Swiss pharmaceutical giant Novartis on improper financial and lobbying efforts – including a $1.2 million dollar payment to President Trump’s former lawyer Michael Cohen – that could be contributing to high prescription drug prices for people in Minnesota and across the country. In May, Novartis confirmed that it erred when it paid Cohen through a shell company to help influence Trump Administration health care policy. Those payments came after Novartis had already agreed in 2016 to comply with a U.S. Securities and Exchange Commission (SEC) order to establish
Sen. Smith Presses to Enhance Nation’s Energy Storage Capabilities
WASHINGTON D.C. [08/24/18]— U.S. Senator Tina Smith (D-Minn.) said legislation she is introducing would significantly increase America’s energy storage capabilities and help expand the role that renewable energies like wind and solar play in the nation’s energy portfolio. “Expanding the nation’s energy storage capabilities will not only help expand use of renewables like wind and solar energy but will contribute to our nation’s energy and economic security,” said Sen. Smith. “This bill will help to significantly improve our nation’s efforts to store energy, and jump start energy storage research and the deployment of energy storage technologies.” Sen. Smith’s “Advancing Grid Storage Act” would authorize $500 million over
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