Salon: Elizabeth Warren and Jamie Dimon face off in heated Senate hearing
Sen. Elizabeth Warren, D-Mass., grilled J.P. Morgan Chase CEO Jamie Dimon during a Senate Banking Committee hearing on Tuesday, calling claims that the bank helped customers during the pandemic "a bunch of baloney."
"No matter how you try to spin it," Warren declared, "this past year has shown that corporate profits are more important to your bank than offering just a little help to struggling families even when we're in the middle of a worldwide crisis."
Back in December, CNBC reported that, for the year of 2020, banks would rake in $30 billion total in overdraft fees, charges made to account holders when the amount they are withdrawing exceeds their balance. Federal regulators last March called for banks to systematically waive these fees due to the added financial burden of the pandemic.
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By: Jon Skolnik
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