On Thursday, Sen Warren and Rep. Jesus “Chuy” Garcia sent a letter to a bank CEO:
Senator Elizabeth Warren blasted Jamie Dimon for reviving a policy that pushes JPMorgan Chase & Co.’s credit-card customers into arbitration to resolve disputes instead of the courts.
“We write to express our strong concern with reports that Chase has decided to reverse course and to urge you to reconsider your plans to resume exploiting its customers,” the Massachusetts Democrat said in a letter to Dimon, the chief executive officer of the biggest U.S. bank. Representative Jesus “Chuy” Garcia, an Illinois Democrat, also signed the letter, which was dated Thursday.
Warren, who has advocated breaking up big banks and other corporate giants, said arbitration lets companies “get away with scamming large numbers of customers out of relatively small amounts of money.” -— www.bloomberg.com/...
A day later, the CEO had this to say about the criticism directed at him..
“Just because it resonates, doesn’t make it right,” Dimon says, when asked about criticism put forward by Ocasio-Cortez, Sanders, and Senator Elizabeth Warren (D-MA). — finance.yahoo.com/...
Bernie had is the perfect response.
— @subirgrewal