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Luetkemeyer Questions Big Bank CEOs

WASHINGTON, D.C. – Today in a House Financial Services Hearing entitled, “Holding Megabanks Accountable: An Update on Banking Practices, Programs and Policies,” Congressman Blaine Luetkemeyer (MO-03) questioned Chief Executive Officers from the U.S. global systemically important banks (G-SIBs).

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“As the largest financial institutions in this country, you extended $8.3 trillion in credit last year, which is a testament to your ability to advance our economy – I’m very thankful for that quite frankly.

“However, when you all decide to boycott industries, you use your size and power to put companies out of business. What’s worse is that these decisions clearly are not made as a matter of conscious; your investments in China prove that. These decisions are being made to pacify political activists who want you to do what the law cannot do which is shut down legal American businesses. By complying, you are no longer supporting our economy, but actively working against it, I would argue.”