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The heads of the country’s largest banks will return to Capitol Hill on Thursday, where they will again be grilled by lawmakers.
The House Committee on Financial Services legislature will hear from Jamie Dimon of JPMorgan Chase, Charles Scharf of Wells Fargo, Jane Fraser of Citi and David Solomon of Goldman Sachs, James Gorman of Morgan Stanley and Brian Moynihan of Bank of America .
The bank’s CEOs appeared before the U.S. Senate Committee on Banking, Housing and Urban Affairs Wednesday. Democrats pushed for their support for American consumers during the Covid-19 pandemic, and Republicans tried to deter them from grappling with social issues.
An irritable exchange from Wednesday’s hearing took place between Senator Elizabeth Warren, D-Mass., And JPMorgan’s Dimon. Warren accused JPMorgan Chase and the other consumer banks for not doing enough to inform its client about the relaxation of certain rules on overdraft fees during the coronavirus outbreak.
Dimon countered that the bank had accepted customers who made qualified requests for exemption from overdraft fees and that the bank would not return the billions it raised in such fees in 2020.
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