Wall Street CEOs Grilled on China, Russia Ties by US Lawmakers
- Citi would scale back China presence on Taiwan invasion: CEO
- Largest retail banks pressed on economy, fossil fuel lending
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Citigroup Inc.’s Jane Fraser was forced to answer if her bank would pull business from China if its military invaded Taiwan. Jamie Dimon was pressed on whether JPMorgan Chase & Co. would cut ties with Russian firms.
Lawmakers seized on recent political tensions and hot-button social issues in a hearing with the chief executive officers of America’s largest retail banks on Wednesday. Representatives on the House Financial Services Committee probed them on everything from the escalation of the Ukraine conflict and racial equity to fossil-fuel financing and their role in slavery.