ABSTRACT

Holding Megabanks Accountable: An Update on Banking Practices, Programs, and Policies, Virtual Hearing Before the Committee on Financial Services, U.S. House of Representatives, One Hundred Seventeenth Congress, First Session, May 27, 2021   [open pdf - 42MB]

This is the May 27, 2021 hearing on "Holding Megabanks Accountable: An Update on Banking Practices, Programs, and Policies," held before the U.S. House Committee on Financial Services. From the opening statement of Maxine Waters: "As chairwoman of this committee, I have made it a priority to ensure that we are conducting rigorous oversight over megabanks and their activities. We last had all of the megabank CEOs testify before the committee in 2019. Since then, there have been many developments involving megabanks that this committee will be examining today. I am eager to hear about the megabanks' responses to the pandemic crisis, including their provisions for mortgage forbearance, affordable loan modifications, support for extending the foreclosure moratorium, and Paycheck Protection Program (PPP) loans. I am concerned that the institutions led by our witnesses raked in billions of dollars in overdraft fees during the pandemic at a time when so many individuals and families across the country were struggling through no fault of their own." Statements, letters, and materials submitted for the record include those of the following: Jamie Dimon, Jane Fraser, James P. Gorman, Brian T. Moynihan, Charles W. Scharf, and David M. Solomon.

Report Number:
Serial No. 117-28
Publisher:
Date:
2021
Copyright:
Public Domain
Retrieved From:
U.S. Government Publishing Office: http://www.gpo.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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