Chair of the House Committee on Financial Services, Maxine Waters has announced the witnesses expected to testify in front of a hearing on “Holding Megabanks Accountable: Oversight of America’s Largest Consumer Facing Banks.” The witnesses on the list contain most of the biggest names in consumer banking in the United States. They include:
- Jamie Dimon, Chairman and Chief Executive Officer, JPMorgan Chase & Co.
- Brian Moynihan, Chairman and Chief Executive Officer, Bank of America
- Jane Fraser, Chief Executive Officer, Citigroup
- Andy Cecere, Chairman, President, and Chief Executive Officer, U.S. Bancorp
- William Demchak, Chairman, President, and Chief Executive Officer, The PNC Financial Services Group
- William Rogers Jr., Chairman and Chief Executive Officer, Truist Financial Corporation
- Charles Scharf, President and Chief Executive Officer, Wells Fargo & Company
This is not the first time many of these witnesses have testified in front of the Committee. While the Hearing memo has not been released, you can expect Committee leadership to drill into key policy issues regarding various topics on consumer banking activity, including catering to underserved markets as well as new innovations in financial services.
The hearing is scheduled to take place on Wednesday, September 21, 2022, at 10:00 a.m. ET and will be live-streamed on the Committee website. CI will share more information when it becomes available.