Fox Business reported late last month that a Chinese-American financial institution willingly provided Republican lawmakers with information relating to Hunter Biden.
According to Wisconsin Republican Sen. Ron Johnson, the move amounted to an attack by the Chinese government on President Joe Biden.
Fox Business noted that Cathay Bank was founded in the U.S. in 1962 and has its headquarters in Los Angeles. However, the bank also maintains offices in China and has been accused by Republicans of being influenced by the Chinese Communist Party.
Johnson told Fox News host Maria Bartiromo that the records Cathay Bank turned over corroborate material obtained by the House Oversight Committee from the Treasury Department.
"A bank from China, let's face it, the Communist Party controls those types of institutions; they willingly gave us the documents that backed up the Treasury records," Johnson told Bartiromo.
What's more, Johnson asserted that information was supplied in order to signal that China has personal leverage over the president.
"Is that the Chinese Communist Party, is that a shot across President Biden's bow, saying, 'Listen, this is some of the information we have," Johnson said.
If you don't toe the line, if you don't do things that displease us, we're going to even provide … more information,'" the senator continued, adding, "So, we obviously have a multiple-tier system of justice."
Fox News explained that the records show Hunter Biden received $1 million which he then divided between himself, his sister-in-law Hallie Biden, and his uncle Jim Biden.
The money was provided by business associate Rob Walker and originated from a Chinese energy firm known as CEFC.
Johnson reiterated his position to the Washington Times in a statement this week, saying, "In my mind, it's the Chinese government telling Joe Biden, 'We got the goods on you, buddy, and we’re willing to dish it up.'"
However, Cathay Bank spokesman Ian Campbell provided a statement of his own to the Times which denied Johnson's allegations.
"Cathay Bank, a NASDAQ-listed, U.S. financial institution for over 60 years, has cooperated with the House Committee on Oversight and Accountability’s request for information. The bank intends to continue to cooperate with the committee," Campbell was quoted as saying.
"Cathay Bank was founded more than sixty years ago by a United States citizen, and serves American communities as a bank with over $20 billion in assets and more than 60 branches in 9 states. Cathay Bank is neither owned by nor affiliated with the Chinese government in any way," he added.