Wall Street bank chiefs were grilled by lawmakers over worker pay, executive compensation, climate change, wealth inequality, racial justice and the broader economy as they appeared before Congress on Wednesday during a frequently hostile hearing. The chief executives of JPMorgan Chase & Co, Bank of America Corp, Citigroup Inc, Wells Fargo & Co , Goldman Sachs Group and Morgan Stanley testified before the Senate Banking Committee for the first time since the coronavirus pandemic unleashed havoc last March. More than a decade after the 2008 financial crisis, the CEOs went into the hearing believing they had a good story to tell after dishing out $69 billion of COVID-19 aid to 850,000 struggling businesses.
