WASHINGTON: Chief executives of some of the largest US banks appeared before Congress on Wednesday , giving lawmakers their first opportunity to grill the lenders since the 2007-2009 financial crisis.
Still, bank executives got a few chances to flag hoped-for talking points like their positive contribution to the economy when Republican lawmakers quizzed them on more systemic issues. David Solomon, president and chief operating officer of Goldman Sachs, at the Bloomberg Global Business forum in New York on Sep 26, 2018. Morgan Stanley Chairman and Chief Executive James Gorman at the Institute of International Finance Annual Meeting in Washington on Oct 10, 2014.
Citi's Corbat declined to comment, citing an ongoing investigation into the matter. The Bank of America and Morgan Stanley CEOs said they had conducted internal investigations and did not find any suspicious activity. Some Republican lawmakers criticized such policies on Wednesday, with Representative Bill Posey cautioning banks against withholding financing from legal business and Representative Sean Duffy accusing Bank of America of denying Americans their Second Amendment rights.
Since the crisis, the country's largest banks have added more than US$800 billion in capital to bolster the financial system.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US bank CEOs face off with Congress for the first time since financial crisisChief executives of some of the largest U.S. banks will testify before Congress on Wednesday, giving lawmakers their first opportunity to grill ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US will be Philippines' only military ally, foreign affairs chief saysMANILA (BLOOMBERG) - The US will remain the Philippines' only military ally, Foreign Affairs Secretary Teodoro Locsin said, amid an increased Chinese presence near a disputed island in the South China Sea.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Congo Ebola outbreak 'far from contained,' US aid chief saysThe deadly Ebola outbreak in the Democratic Republic of Congo is far from contained, U.S. Agency for International Development Administrator Mark ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US Homeland Security chief Nielsen 'leaving her position': TrumpWASHINGTON: US President Donald Trump on Sunday (Apr 7) announced Homeland Security Secretary Kirstjen Nielsen, the front-line defender of the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Kirstjen Nielsen quits as US Homeland Security chiefWASHINGTON: US Homeland Security Secretary Kirstjen Nielsen, the front-line defender of the administration's controversial immigration policies, announced her resignation on Sunday, in a move linked by observers to the president's anger over Central American border...
Source: thenewpaper - 🏆 7. / 63 Read more »
Standard Chartered expected to pay just over US$1 billion to resolve US, UK probesNEW YORK: London-based Standard Chartered is expected to pay slightly more than US$1 billion to resolve a nearly five-year-old investigation of ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Did Jho Low donate US$100,000 to US President Donald Trump’s re-election campaign?‘Six degrees of separation’ is a long-standing popular theory that everyone, or everything, is just six social connections away from each other.
Source: IndependentSG - 🏆 2. / 72 Read more »
Pinterest seeks US$15-US$17 per share in IPO, below last private valuationREUTERS: Pinterest Inc on Monday set a price range of US$15 to US$17 per share for its initial public offering of 75 million shares, valuing it ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US charges 24 in telemedicine healthcare fraud causing US$1.2 billion lossesREUTERS: U.S. authorities on Tuesday said 24 defendants have been charged in connection with one of the largest health care fraud schemes ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Pinterest sets IPO price range between US$15-US$17 per shareNEW YORK: Image sharing website Pinterest Inc set a price range of US$15 to US$17 per share for its initial public offering of 75 million shares, ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »