(Reuters) – Chief executives of some of the largest U.S. banks will testify before Congress on Wednesday, giving lawmakers their first opportunity to grill the lenders since the 2007-2009 financial crisis.
JPMorgan Chase & Co’s Jamie Dimon, Bank of America Corp’s Brian Moynihan, Citigroup Inc’s Mike Corbat, Goldman Sachs Group Inc’s David Solomon and Morgan Stanley’s James Gorman will face off against the House Financial Services Committee.
Representative - Maxine - Waters - Progressives - Alexandria
Led by Democratic Representative Maxine Waters and staffed with some high-profile progressives including Alexandria Ocasio-Cortez, the panel will likely quiz the CEOs on the safety of the financial system, compensation and diversity, as well as their role in financing gun-makers and private prisons.
Also due to appear are Ronald O’Hanley, CEO of State Street Corp, and Charles Scharf, CEO of Bank of New York Mellon Corp, the country’s two largest custody banks.
Wells - Fargo - Co - CEO - Tim
Wells Fargo & Co will not be represented since former CEO Tim Sloan resigned abruptly last month, two weeks after being grilled by the same committee.
The executives plan to argue Wall Street has reformed the practices that fueled the crisis and to...
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