Secretary Bessent Faces Ethics Investigation Over Conflicted Stocks

Washington, D.C. — U.S. Treasury Secretary Scott Bessent is under scrutiny for failing to divest from financial interests that may conflict with his official duties. The Campaign Legal Center (CLC) has raised alarms over his continued ownership of stocks, which could pose ethical concerns.

This situation arises after CLC previously urged the Office of Government Ethics (OGE) to enforce ethics guidelines, prompting questions about Bessent’s compliance following his Senate confirmation. Bessent was expected to divest from 28 financial holdings, some of which are linked to companies lobbying the Treasury Department.

Among the companies in question are Verizon Communications and Archer Daniels-Midland, raising concerns about whether Bessent’s financial interests may influence economic policymaking that affects average Americans. CLC, supported by the Democracy Defenders Fund, is calling for an investigation into his stock ownership.

Bessent’s ethics agreement required him to divest from potential conflicts within 90 days of his confirmation, which raises questions about his leadership in fostering ethical behavior within the Cabinet. CLC’s advocacy highlights the importance of enforcing ethics laws, especially in light of dismantled enforcement mechanisms during the Trump administration.

The organization previously challenged similar conflicts involving other officials, including a $715,000 stock holding by a CFPB employee. CLC’s commitment to holding government officials accountable underscores the need for a culture that prioritizes public service over personal gain.

Delaney, CLC’s Director of Ethics, emphasized the urgency of opposition against unethical behavior within government roles. In the face of these challenges, CLC continues its fight for reforms that ensure a government dedicated to serving the American public.