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Congress to interrogate big US bank CEOs on social and consumer issues

US bank CEOs to face Congress this week
Major changes to banking made during COVID-19 pandemic
Posted at 8:46 PM, Sep 19, 2022
and last updated 2022-09-19 20:46:31-04

Top executives of big U.S. banks, including Wells Fargo, Citigroup, JPMorgan, Bank of America and others, are scheduled to be questioned by Congressional lawmakers this week on consumer issues.

Lawmakers want to know more about concerning social issues with major U.S. banks. The questions are expected to touch on many issues, including the state of the economy and their positions on big issues like abortion and fossil-fuel lending, Reuters reported.

Other topics the chief executives are expected to be grilled on include boosting diversity, access to bank branches, payments fraud, and mergers as the CEOs face the House Financial Services Committee and the Senate Banking Committee on Wednesday and Thursday.

The CEOs of the four largest U.S. banks are scheduled to attend, which include, JPMorgan's Jamie Dimon, Bank of America's Brian Moynihan, Citi's Jane Fraser, and Wells Fargo's Charles Scharf.

USBancorp CEO Andy Cecere, PNC Financial CEO William Demchak, and Truist Financial CEO William Rogers will also join them. Truist Financial runs the largest regional lenders in the United States.