CEOs of 7 big banks to appear in front of Congress
NEW YORK (AP) — The heads of some of the U.S.’ largest banks will appear in front of Congress Wednesday, for a hearing expected to produce political fireworks, but few policy changes.
Jamie Dimon of JPMorgan Chase will testify, as well as the CEOs of Bank of America, Citigroup, Goldman Sachs and Morgan Stanley. The CEOs of State Street and Bank of New York Mellon are also slated to appear.
It’s the most significant hearing on banks since Democrats took control of the House earlier this year.
Banks have been trying to polish up their images ahead of the hearing, aware their record profits in 2018 could be a target for Democrats. Meanwhile, the banking industry’s lobbyists have been pushing Congress to further unwind the rules put into place after the 2008 financial crisis.