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Wall Street CEOs to face Capitol Hill scrutiny during oversight hearing
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The CEOs of some of the largest banks in the U.S. will testify Wednesday on Capitol Hill for Senate's Wall Street oversight hearing.
The Senate Committee on Banking, Housing and Urban Affairs is holding the virtual meeting that will include testimony from Wells Fargo CEO Charles Scharf, Goldman Sachs CEO David Solomon, Citigroup CEO Jane Fraser, JPMorgan Chase CEO Jamie Dimon and Bank of America CEO Brian Thomas Moynihan.
The hearing will likely focus on current issues related to major U.S. banks that have come under the spotlight over the last year including the COVID-19 pandemic and banks' responses, racial justice, tax policies, cryptocurrencies, climate change and other topics, based on CEO testimony published on Tuesday evening.
"We are living through extraordinary times, for which history will judge the leaders of government and industry by the actions we take to address the health crisis, support the people and businesses suffering from the devastating economic impacts of the pandemic, and address longstanding structural inequities and racial economic inequality," Dimon wrote in his testimony.