ICYMI: At Hearing with Megabank CEOs, Committee Democrats Ask Hard-Hitting Questions
NNPA NEWSWIRE — WASHINGTON – Yesterday, at a hearing entitled, “Holding Megabanks Accountable: A Review of Global Systemically Important Banks 10 years after the Financial Crisis,” Committee Democrats asked the Chief Executive Officers (CEOs) of seven of the nation’s largest financial institutions tough questions on behalf of hardworking consumers.
Read below for 10 tough questions Committee Democrats asked the CEOs to answer during the hearing.
1. Rep. Carolyn Maloney (D-NY), Chairwoman of the Subcommittee of Investor Protection and Capital Markets
“After the Parkland shooting last year, where a lone gunman killed 17 student and staff with a military-style semiautomatic rifle, two of the banks on this panel, Citibank and Bank of America, stepped up to the plate and adopted formal policies limiting their business with certain gun industry clients, and I want to publicly thank them.
Now, Mr. Dimon, last week you published your letter to shareholders. The section on responsible banking, you wrote the paragraph that is up on the screen right now. You said that turning down clients with low character is “often the only way to be a responsible bank.” Well, actions speak louder than words on guns, Mr. Dimon, and from what I can tell these are just words to you.
Let’s talk about some of the actions on your bank’s activities. Even after the horrific massacres at Sandy Hook, Las Vegas and Parkland, JPMorgan has arranged about 273 million dollars of loans for the manufacturers of military-style firearms, the same weapons that are being used in mass shootings all over our country. Even worse, last year JPMorgan took partial ownership of Remington, the manufacturer of the exact gun that was used to kill 20 children in the Sandy Hook shooting. And JPMorgan has refused to adopt a policy to ensure responsible lending to the gun industry, even though you claim client selection is important and even though two of your competitors have already adopted these policies.
So, my question is, will you live up to your own rhetoric, will you commit to adopting a formal policy that ensures responsible lending in your bank’s business with the gun industry?”
See below for video of Rep. Maloney’s Q&A.
2. Rep. Nydia Velazquez (D-NY)
“So, let me ask you this question. If you were an employee and you saw your boss making 486 dollars for every dollar you made, how would you feel about that situation?”
See below for video of Rep. Velazquez’s Q&A.
3. Rep. William Lacy Clay (D-MO), Chairman of the Subcommittee on Housing, Community Development and Insurance
“Last year, your banks accounted for only 25 percent of loans to small businesses, which frankly is not good enough. As drivers of our economy, we must promote small businesses and any impediments in access to credit can undermine their business leading to job loss.
Mr. Moynihan, the CFPB has not collected small business lending data that it’s supposed to do under Section 1071 of Dodd-Frank. Unlike the mortgage market, we have far less information about what is happening in the small business space including potential discrimination. To ensure we have a fair marketplace, shouldn’t policymakers have access to that kind of data?”
See below for video of Rep. Clay’s Q&A.
4. Rep. Al Green (D-TX), Chairman of the Subcommittee on Oversight and Investigations
“Do you believe that your bank benefited from slavery in some way in terms of its business practices?”
See below for video of Rep. Green’s Q&A.
5. Rep. Juan Vargas (D-CA)
“I want to ask you first and then go down the line, (1) if you hire [DACA recipients] and secondly, if you help them in their renewals.”
See below for Rep. Vargas’ Q&A.
6. Rep. Katie Porter (D-CA)
“…Goldman Sachs’ big initiative is to help 10,000 [women]. Is this initiative missing a few zeros?”
See below for video of Rep. Porter’s Q&A.
7. Rep. Cindy Axne (D-IA)
“I think we all know that you profited tremendously from the tax cuts but I just want to run through a few of them.
Morgan Stanley: $1.1 Billion
Citigroup: $1.7 Billion
Goldman Sachs: $1 Billion
Bank of America: $3.5 Billion
JP Morgan: $3.7 Billion.
Meanwhile, each of you makes at least 150 times what your median worker is being paid and three of you on this panel make over 350 times what that median worker makes. Given that the administration’s rationale for those tax cuts was so that companies can reinvest the money, Mr. Dimon, can you explain how you’re investing that $3.7 billion in growing your company and are you using it to increase pay for your workers and reduce the pay ratio?”
See below for video of Rep. Axne’s Q&A.
8. Representative Dean Phillips (D-MN):
“I want to take our few minutes together to seek your advice and counsel, if I might, starting with the fact that in our nation almost 50 percent of our wealth is concentrated in the hands of just 1 percent of our population. 20 percent of annual income accrues to just the top 1 percent of earners. Most of the CEOs of the S&P 500 companies, including each of you, earn anywhere between 100 and 500 times more than the median earners at the respective businesses. And every one of these indicators is moving in the wrong direction, in my estimation.
So, I have two questions and I want each of you if you would to take about 30 seconds to answer. The first is, do you believe that our growing wealth and income disparities pose an economic and social risk to our country? And if so, what can you each do, and what can we do here in Congress, to address it?”
See below for video of Rep. Phillips’ Q&A.
9. Representative Ayanna Pressley (D-MA):
“More than a decade later we are still grappling with the consequences of a crisis created by greed and the complete and utter disregard for the welfare of everyday Americans. And yet, the narrative has shifted from a focus on Main Street suffering to a celebration of Wall Street’s recovery. In the district that I represent, the Massachusetts 7th, a study by the Pew Research Center shows that from 2005 to 2009, median wealth among Hispanic households fell by 66 percent, by 53 percent among Black households, 31 percent among Asian households, and by 16 percent among White households.
These families were often the target of subprime lending, yet have never been repaid. Your bank shareholders are reaping record profits while there is little evidence that these lower income individuals and communities of color are anywhere near close to recovering. In fact, just yesterday, we were discussing the ongoing prevalence of redlining and other discriminatory practices, despite the fact that 98 percent of banks are passing CRA examinations. This is exacerbating the wealth gap in Massachusetts and across the country. Today I want to dig a bit deeper and resurface a report from 2016 which addresses pinklining.
Are any of you familiar with the phrase pinklining? Well women were 30 to 46 percent more likely to receive subprime mortgage loans during the financial crisis than men. And Black women were 256 percent more likely to receive subprime loans than White men. 256 percent.
Mr. Dimon, you cowrote a piece recently entitled ‘Advancing Black Pathways.” You spoke about how you wanted to address the racial wealth gap. That is wonderful. But what’s even better than an op-ed is action. For the purposes of the record, could you clarify, in 2017 JPMorgan agreed to a $53 million settlement with the DOJ, pertaining to allegations of what?”
See below for video of Rep. Pressley’s Q&A.
Representative Alexandria Ocasio-Cortez (D-NY):
“Mr. Corbat, is a cost-benefit analysis that weighs the cost of government fines versus the potential financial upside of potentially breaking the law, does that factor into controversial decision making around misconduct at your bank?”
Black Artists in America, Installation Three Wraps at the Dixon Gallery and Gardens
TRI-STATE DEFENDER — With 50+ paintings, sculptures and assemblages, the exhibit features artists like Varnette Honeywood from Los Angeles, whose pieces appeared in Bill Coby’s private collection (before they were auctioned off) and on “The Cosby Show.” Also included are works by Alonzo Davis, another Los Angeles artist who opened one of the first galleries there where Black Artists could exhibit.
The tulips gleefully greet those who enter the gates at the Dixon Gallery & Gardens on an almost spring day. More than 650,000 bulbs of various hues are currently on display. And they are truly breathtaking.
Inside the gallery, and equally as breathtaking, is the “Black Artists in America, From the Bicentennial to September 11” exhibit, which runs through Sunday, March 29. This is the third installment of a three-part series that started years ago and illustrates part of the Black experience through visual arts in the 20th century.
“This story picks up where part two left off,’’ said Kevin Sharp, the Linda W. and S. Herbert Rhea director for the Dixon. “This era is when we really start to see the emergence of these important Black artists’ agency and freedom shine through. They start to say and express what they want to, and it was a really beautiful time.”
With 50+ paintings, sculptures and assemblages, the exhibit features artists like Varnette Honeywood from Los Angeles, whose pieces appeared in Bill Coby’s private collection (before they were auctioned off) and on “The Cosby Show.” Also included are works by Alonzo Davis, another Los Angeles artist who opened one of the first galleries there where Black Artists could exhibit.
“Though [Davis] was from LA, he actually lived in Memphis for a decade,” said Sharp. “He was a dean at Memphis College of Art, and later opened the first gallery in New York owned and operated by black curators.”
Another featured artist is former NFL player, Ernie Barnes. His work is distinctive. Where have you seen one of his most popular paintings, Sugar Shack? On the end scene and credits of the hit show “Good Times.” His piece Saturday Night, Durham, North Carolina, 1974 is in this collection.
Memphis native James Little’s “The War Baby: The Triptych” is among more than 50 works featured in “Black Artists in America, From the Bicentennial to September 11” at the Dixon Gallery & Gardens, the final installment of a three-part series highlighting the impact and evolution of Black artists through 2011.
The exhibit features other artists with Memphis ties, including abstract painter James Little, who was raised in a segregated Memphis and attended Memphis Academy of Art (before it was Memphis College of Art). He later moved to New York, became a teacher and an internationally acclaimed fixture in the art world in 2022 when he was named a Whitney Biennial selected artist at the Whitney Museum of American Art in New York.
Other artists like Romare Bearden, who had a Southern experience but lived up North, were featured in all three installments.
“During this period of time, he was a major figure,” said Sharp. “He wrote one of the first books on the history of African American art during a time when there were more Black academics, art teachers, more Black everything!”
Speaking of Black educators, Sharp said the head curator behind this tri-part series and Dixon’s partner in the arts is Earnestine Jenkins, Ph.D., an art history professor at the University of Memphis, who also earned a Master of Arts degree from Memphis State University (now UofM). “We began working with Dr. Jenkins in 2018,” he said.
Sharp explained that it takes a team of curators, registrars, counterparts at other museums, and more, about three years to assemble an exhibit like this. It came together quite seamlessly, he added. Each room conjured up more jaw-dropping “wows” than the one before it. Each piece worked with the others to tell the story of Black people and their collective experience during this time period.
One of the last artists about whom Sharp shared information was Bettye Saar, who will turn 100 years old this year. She’s been working in Los Angeles for 80 years and is finally getting her due. Her medium is collages or assemblages, and an incredible work of hers is on display. She’s married to an artist and has two daughters, also artists.
The exhibit catalogue bears some of these artists’ stories, among other scholarly information.
The exhibit, presented by the Joe Orgill Family Fund for Exhibitions, is culturally and colorfully rich. It is a must see and admission to the Dixon is free.
Grief, Advocacy, and Education: A Counselor Reflects on Black Maternal Health
SAN DIEGO VOICE & VIEWPOINT — Last month healthcare leaders, birth workers, and community members gathered to honor the legacy of Charleston native Dr. Janell Green Smith, a nurse-midwife and doctor of nursing practice who died in January from childbirth complications. She had participated in more than 300 births and specialized in helping Black women give birth safely.
By Jennifer Porter Gore | Word-In-Black | San Diego Voice and Viewpoint
In 2024, the number of U.S. mothers who died as a result of pregnancy or childbirth dropped compared to 2023. But while slightly fewer Black mothers died that year, they still had three times the mortality rate of white women.
South Carolina’s rates of maternal deaths outpaced even the national rates. In fact, the state’s overall rate of maternal deaths between 2019 and 2023 was higher than all but eight states and the District of Columbia.
Last month healthcare leaders, birth workers, and community members gathered to honor the legacy of Charleston native Dr. Janell Green Smith, a nurse-midwife and doctor of nursing practice who died in January from childbirth complications. She had participated in more than 300 births and specialized in helping Black women give birth safely.
Her death shocked the community and her colleagues who are determined to address concerns about Black maternal health. The event also covered the importance of protecting mental health during grief and of men’s role in solving the maternal health crisis.
As both a therapist and a father, Lawrence Lovell, a licensed professional counselor and founder of Breakthrough Solutions, discussed ways the event’s attendees could process their grief over Green Smith’s death. He also shared ways male partners can advocate for women’s maternal health during pregnancy and childbirth.
Lovell spoke not just as a therapist but also as a father whose own family had briefly crossed paths with Green Smith. The event, he said, emerged organically from a moment of collective mourning.
Despite the grief, “it was still, like, a really beautiful event, a much-needed event, and it almost felt like we were all giving each other a collective family hug,” says Lovell.
His connection to Green Smith, Lovell says, was brief but meaningful during his wife’s pregnancy with their second child. Green Smith was practicing at the same birthing center where they had their child. She began practicing in Greenville a short time later.Even that short connection carried significance for Lovell, given the small number of Black maternal health professionals.
Lovell did not initially plan to become a mental health practitioner; he chose the career path after graduating from college, when someone suggested he consider psychology. His interest deepened when he noticed how few Black men work in mental health.
“Being Black man and playing football in college, there weren’t a lot of people that look like me talking about mental health,” says Lovell. “[I wanted] to give people that look like me an opportunity to work with someone that looks like them.”
Working with Expectant and New Parents
Lovell often counsels couples preparing for parenthood by, helping partners understand what a successful pregnancy, childbirth, and postpartum recovery look like. That often means helping women manage postpartum depression.
As a man, Lovell says, it’s “humbling” that a woman “just trusts me enough to work with me through their pregnancy or their postpartum recovery.”
In his work, Lovell has noticed how few men understand pregnancy before they experience it with their partner. Because early pregnancy symptoms are often invisible, he says, men may underestimate how much support a mom-to-be actually needs.
“Sometimes they may not realize they don’t know much about pregnancy and what to expect in those three trimesters,” Lovell says. “I tell a lot of the men that just because you can’t see [she’s pregnant] doesn’t mean that she won’t appreciate your intense support in that first trimester.”
Education about pregnancy and postpartum recovery, he says, can change how men support their partners.
Teaching Advocacy in the Delivery Room
Another major focus of Lovell’s counseling is preparing men to advocate for mothers during labor.
“Helping men understand what pregnancy looks like: what delivery is going to look like, and what are the realistic expectations that I should have of myself in postpartum,” he says.
Lovell encourages partners to be honest about their expectations for what will happen during delivery. He helps them prepare for the big day by discussing the birth plan and knowing how to quickly recognize problems. Clear communication, he says, prevents misunderstandings.
He regularly trains men to ask their partners detailed questions about their expectations during and after pregnancy. Advocacy in medical settings can be especially important and requires attention to details the mother may not be able to address.
“It’s always important to fine-tune things and truly understand what helps your partner feel most supported,” Lovell says. “Instead of guessing, you should ask.”
Lovell recalls a moment during the birth of his first child when he had to take that role.
During the delivery, “I felt like something wasn’t as sanitary as I’d like it to be,” he says. “I asked, ‘Hey, can you switch those out? Can you change your gloves?’”
Lovell has a succinct but powerful message he regularly shares with clients’ families, and he shared it with attendees at last month’s event.
“Just to believe women,” he says. “I’ve worked with different couples, and sometimes I’m not really sure that there’s enough empathy from the men.”
That includes how women express pain.
“If a woman says, ‘my pain is at a nine,’ just because how you would express yourself at a nine is different than how she’s expressing herself at [that level] doesn’t mean you shouldn’t believe her,” he says.
Empathy, he says, can change outcomes far beyond the delivery room.
“We’ve got to believe women when they’re talking about their experiences and their feelings and their pain,” he says. “I think there’s a lot that we can prevent if we empathize better.”
JACKSONVILLE FREE PRESS — A proposal sponsored by Tom Leek, a Republican from Ormond Beach, has now passed the Senate in back-to-back legislative sessions. But the House version, filed by Kiyan Michael, a Jacksonville Republican, did not receive final approval in either year, effectively stalling the effort.
Plans to establish a long-awaited Black history museum in Florida are once again on hold after legislation needed to advance the project failed to clear the state House for a second consecutive year, despite repeated approval in the Senate.
A proposal sponsored by Tom Leek, a Republican from Ormond Beach, has now passed the Senate in back-to-back legislative sessions. But the House version, filed by Kiyan Michael, a Jacksonville Republican, did not receive final approval in either year, effectively stalling the effort.
Under Florida law, identical or similar bills must pass both chambers before heading to the governor’s desk. Without House approval, the legislation has been unable to move forward, leaving the project in limbo. Long journey, contested location.
The proposed museum, formally known as the Florida Museum of Black History, has been years in the making, with lawmakers and community leaders framing it as a long-overdue institution to preserve and showcase the state’s African American heritage .A central point of contention has been the museum’s location. St. Augustine — widely recognized as the nation’s oldest city and a site deeply tied to both slavery and early Black history — emerged as the leading contender. Supporters argue the city’s historical significance makes it a natural home for the museum. However, competing interests and regional considerations have fueled debate, slowing consensus among lawmakers.
While the Senate-backed measure has consistently advanced, the lack of alignment in the House has underscored ongoing divisions about how and where the project should take shape.
The holdup in the Florida House appears to be less about opposition to the museum itself and more about a combination of procedural bottlenecks, unresolved structural issues, and lingering disagreements over how the project should be formalized and governed.
Despite the legislative setbacks, Republican Gov. Ron DeSantis has publicly voiced support for the museum. Speaking last month during the unveiling of a statue of abolitionist Frederick Douglass in St. Augustine, DeSantis said the project would move forward “one way or another,” signaling an intent to see the museum built regardless of legislative hurdles.
The anticipated museum has already cleared several hurdles. St. Johns County signed an agreement last year with Florida Memorial University to use the land that once housed its campus last year’s legislative session netted $1 million in funding for St. Johns County to work on planning and design for the museum. However, its anticipated that a million $3 million is needed.
Still, without statutory approval to finalize key components — including governance, funding mechanisms and site selection — the project remains largely conceptual.
With the House bill failing again, the timeline for the museum’s development is unclear. Lawmakers could revisit the proposal in the next legislative session, but any further delays risk pushing the project back several more years. Advocates warn that continued inaction could stall momentum for a museum many see as critical to telling a fuller, more accurate story of Florida’s past. For now, the effort remains paused — caught between political support at the top and legislative gridlock within the Capitol.
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