Warren Demands Barclays Answers in 2 Weeks on Staley-Epstein Ties

2 articles · Updated · The Guardian · Jul 23

Elizabeth Warren and two House Democrats gave Barclays two weeks to explain how it investigated former CEO Jes Staley’s ties to Jeffrey Epstein, calling the bank’s review apparently inadequate.
The letter cites evidence from Staley’s failed UK court challenge, including chair Nigel Higgins’s admission he did not ask Staley about his last contact with Epstein before Barclays reassured regulators.
Lawmakers said the episode raises governance and accountability concerns at a bank with about $200 billion in US assets, warning US banking access depends on management’s fitness and safe operations.
The demand landed hours before Staley was due at a closed-door House Oversight hearing, extending scrutiny after his 2021 exit, UK industry ban and loss of £18 million in pay and bonuses.
Barclays said UK regulators concluded Staley misled the bank and that later information—unavailable during its original review—showed ties to Epstein that predated his time at Barclays.