The Latest: CEOs say big banks more stable since crisis
The Latest on the appearance of U.S. bank CEOs before Congress (all times local):
Seven CEOs of the largest banks in the U.S. are appearing in front of Congress Wednesday, the largest gathering of heads of the banking industry in Washington since the financial crisis.
Based on prepared testimony, the chief executives of JPMorgan Chase and Goldman Sachs, along with the CEOs of five other banks, will tell the House Financial Services Committee they’ve taken steps to improve the stability of their institutions in the 10 years since the financial crisis.
For example, Michael Corbat of Citigroup says that the New York-based bank is now a safer and less complex institution than it was back in 2008.
Committee members are likely to ask the CEOs about recent efforts to pare back some of the financial rules that were put in place following the crisis.