Photo: CNN
America's largest multi-national bank CEO's gathered virtually to answer questions from Congress. Questions regarding the government assistance (funding) that was dispersed to corporations to help suffering customers. Instead of assisting customers, the CEO's chose to line their pockets along with shareholders. Wow!
In the video below, Senator Warren points out the JP Morgan would have still profited $24 Billion during the same period without taking $1.5 Billion in unnecessary fees from suffering Americans:
Senator Elizabeth Warren questions JP Morgan CEO Jaime Dimon regarding the excessive bank fees collected from struggling customers during COVID-19 period. Of course, Jaime Dimon does not want to answer any questions regarding collecting profits from struggling customers. Instead, the JP Morgan CEO chooses to highlight that each customer could recoup any collected fees upon request.
Really?
How many customers does the average American believe to be knowledgeable regarding the ability to recoup these fees? How would any customer know unless they were told by the bank itself? What a sham?
Mr. Dimon along with other CEO's refused to commit to giving back unnecessary fees to suffering customers during COVID-19 which were suggested by the government -- through funding programs. Instead, JP Morgan chose to pay its CEO and shareholders extra profits. Profits off the backs of suffering customers. Wow!
Senator Kennedy asks JP Morgan CEO Jaime Dimon a simple question: How can the top banks profit 60% from tax havens where 15% of their employees work?
Tax havens are countries that have a substantially lower corporate tax compared to America!
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