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Elizabeth Warren Grills Bank CEOs for Preying on Customers During Pandemic

HeadlineMay 28, 2021

Top executives of the largest U.S. banks appeared on Capitol Hill for a second straight day Thursday, where some lawmakers accused them of pandemic profiteering. On Wednesday, Massachusetts Democratic Senator Elizabeth Warren grilled the CEOs of Bank of America, Citibank, JPMorgan Chase and Wells Fargo for charging customers a collective $4 billion in overdraft fees during the COVID crisis.

Sen. Elizabeth Warren: “While you automatically, and at no cost, got complete protection from overdraft fees at the Federal Reserve, could you please raise your hand if you gave the same automatic protection to your customers and automatically waived all of their overdraft fees? OK, I’m not seeing anyone raise a hand, and that’s because none of you gave the same help to your customers that the bank regulators extended to you.”

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