The heads of major U.S. retail banks faced renewed criticism Thursday from Democratic lawmakers who said financial institutions should not have charged Americans billions of dollars in overdraft and other fees during the pandemic. Testifying before Congress for the second time this week, the CEOs of JPMorgan Chase, Bank of America, Citigroup Inc and Wells Fargo highlighted their banks’ efforts to waive fees and offer more affordable accounts after Senator Elizabeth Warren attacked them over the costs. JPMorgan CEO Jamie Dimon, who bore the brunt of Warren’s ire during Wednesday’s Senate hearing, said his bank waived $400 million in overdraft fees for customers who asked for help since the pandemic began.
