The U.S. economy is strong and Wall Street has reformed practices that contribut...
- The U.S. economy is strong and Wall Street has reformed practices that contributed to the financial crisis a decade ago, chief executives of some of the largest U.S. banks said in prepared testimony released by the House Financial Services Committee late on Monday.
“Confidence in U.S. financial services and the American economy remains uncertain,” wrote Jamie Dimon, CEO of JPMorgan Chase & Co, the largest U.S. bank. As the 2020 election race heats up, U.S. Democrats driven by progressive firebrands like Senators Bernie Sanders and Elizabeth Warren see financial inclusion as a draw for voters.
“We recognize that we have significant work to do to achieve our diversity goals, and that it requires efforts at every level of the firm to deliver results over the long term,” Morgan Stanley CEO James Gorman wrote in his testimony.
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