Megabanks and their predatory behavior were in the spotlight in May with hearings by the House Financial Services Committee and the Senate Banking Committee. As usual, Better Markets provided commentary and analysis of the hearings with links to our resources via Twitter @BetterMarkets. Check out the links below to watch the recorded hearings and read more about these events in our May newsletter.
- On May 26, Senate Banking Committee Chair Sherrod Brown held a hearing titled: Annual Oversight of Wall Street Firms. The witnesses for the hearing were the top executives of the megabanks, including Wells Fargo CEO Charles Scharf; Goldman Sachs CEO David Solomon; Citigroup CEO Jane Fraser; and JP Morgan Chase Chair and CEO Jamie Dimon.
- Keeping the heat on the big banks, House Financial Services Committee Chair Maxine Waters held a virtual hearing on May 27 titled: Virtual Hearing – Holding Megabanks Accountable: An Update on Banking Practices, Programs and Policies. Better Markets will provide an update on the hearing in next month’s newsletter.