1/24/2019, 10:34 PM (Source: TeleTrader)
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Big banks execs to testify before Congress in March - report

Top executives from the largest banks in the United States are set to testify before the House Financial Services Committee in March, CNBC reported on Thursday, citing people with knowledge on the matter. JPMorgan Chase, Goldman Sachs, and Wells Fargo's chief executive officers are among the people expected to testify, the report said. Bank of America and Morgan Stanley chiefs should also be there.

The testimony is to be delivered before Representative Maxine Waters who was recently appointed chair of the Financial Services Committee. According to the report, the testimony may become confrontational given Waters' earlier remarks about imposing higher taxes on big banks. Additionally, during her entire political career, Waters has been a vocal critic of large banks. She also vowed to fight financial industry deregulation backed by the Trump administration.

Breaking the News / SS