December 05, 2023

Ahead of Big Bank Hearing, Banking and Housing Committee Releases Fact Sheet on Wall Street Megabanks

Today, the U.S. Senate Committee on Banking, Housing, and Urban Affairs majority released a fact sheet on the nation’s largest banks. These banks play an outsized role in our economy, with a significant share of U.S. deposits and assets totaling $14.8 trillion, and broad reach across the financial system. While Wall Street banks argue that stronger rules to protect the public will be too expensive, they are actually making billions of dollars in profits every year and paying CEOs several hundred times more than their median workers.

Tomorrow, the banks’ CEOs will testify at the Committee’s annual big bank oversight hearing.

Last year the Committee shared snapshots of the following banks: Bank of America, Citi, JP Morgan Chase, and Wells Fargo – related to consumer abuse.