Bank CEOs Head to Washington Citing Efforts for Underbanked
- The biggest U.S. lenders to appear before Congress this week
- Racial equality, diversity and climate likely to be on agenda
Jamie Dimon, chief executive officer of JPMorgan Chase & Co.
Photographer: Andrew Harrer/BloombergJPMorgan Chase & Co., Bank of America Corp. and their largest rivals are preparing to tell lawmakers they’ve stepped up efforts to bank under-served communities, ahead of scrutiny into their lending to Americans facing hard times during the pandemic.
“We took steps to make sure those in need, including those without access to traditional banking services, received each round of stimulus payments quickly,” JPMorgan Chief Executive Officer Jamie Dimon said. The bank also delayed payments and extended forbearance options on mortgage and other accounts, and funded more than 400,000 loans to small businesses, according to remarks prepared for his appearance alongside other banking CEOs before Congress on Wednesday and Thursday.