Financial institution CEOs return to Capitol Hill for second day of testimony
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The bosses of the nation’s largest banks will return on Thursday to Capitol Hill, the place they are going to face one other spherical of grilling from lawmakers.
Lawmakers on the U.S. Home Committee on Monetary Providers will hear from JPMorgan Chase’s Jamie Dimon, Wells Fargo’s Charles Scharf, Citi’s Jane Fraser and Goldman Sachs’ David Solomon, Morgan Stanley’s James Gorman and Financial institution of America’s Brian Moynihan.
The financial institution CEOs appeared on Wednesday earlier than the U.S. Senate Committee on Banking, Housing and City Affairs. Democrats pressed them on their help for American shoppers in the course of the Covid-19 pandemic, and Republicans sought to discourage them from weighing in on social points.
One testy trade from Wednesday’s listening to got here between Sen. Elizabeth Warren, D-Mass., and JPMorgan’s Dimon. Warren accused JPMorgan Chase, and the opposite client banks, of not doing sufficient to speak to its shoppers about rest of sure overdraft charges guidelines in the course of the coronavirus outbreak.
Dimon countered that the financial institution had accommodated prospects that had made qualifying overdraft charge waiver requests and that the financial institution wouldn’t be returning the billions it collected in such charges in 2020.
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