Bank CEOs tell Congress they’ll work to avoid foreclosures

WASHINGTON (AP) — The chief executives of the nation’s largest banks have been back in front of Congress, facing questions ranging from bitcoin to their efforts to keep Americans in their homes after government aid to pandemic-hit mortgage holders expires this summer.

The House hearing Thursday came after senators on Wednesday questioned the six CEOs on topics including climate change, voting rights and racial inequities.

Congress Bank Ceos

This image from video provided by the House Financial Services Committee shows Citigroup CEO Jane Fraser being sworn in to testify virtually to the House Financial Services Committee Thursday, May 27, 2021. (House Financial Services Committee via AP)

House members spent much of the hearing asking detailed policy questions of the CEOs. The banking industry, which was blamed for the Great Recession more than a decade ago, has spent most of 2020 and this year stressing its efforts to work with borrowers and businesses.

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