[Breitbart] The Treasury Department on Wednesday denied the House Oversight Committee’s request to disclose 150 suspicious reports flagged by U.S. banks concerning Biden family business transactions, causing the committee’s chairman to threaten a subpoena.U.S. banks have flagged over 150 suspicious financial transactions from Hunter and James Biden, Rep. James Comer (R-KY), House Oversight Committee chair, told Breitbart News. The wire transfers included "large" amounts of money tripped for further review by American banks.
Wire transfers are widely used by money launderers. To mitigate the risks to the financial institutions, suspicious wire transfers over $10,000 are flagged for review. Wire transactions involving more than $10,000 are also to be reported to the Internal Revenue Service.
Comer demanded the Treasury on January 11 to turn over the suspicious bank records. But the Treasury denied Comer’s request, citing "improper disclosure" of relevant information that could reduce the Biden administration’s ability to "conduct of law enforcement, intelligence, and national security activities."
Treasury’s legislative affairs chief Jonathan Davidson asked Comer to provide more justification for seeking "highly sensitive" information on the Biden family business.