Apr 30, 2019

Warren attacks JPMorgan Chase for financial advice tweet to customers

Rebecca Falconer

Democratic presidential hopeful Elizabeth Warren was scathing in her criticism for JPMorgan Chase. — Sen. Elizabeth Warren (D-Mass). Photo by Ethan Miller/Getty Images

Democratic presidential candidate Sen. Elizabeth Warren (D-Mass) led criticism of JPMorgan Chase, the country’s largest bank, after it attempted to offer financial advice to struggling customers Monday.

Details: The bank was roundly criticized on Twitter for its attempt at being relatable on social media. In a series of Twitter posts, Rep. Katie Porter ‏(D-calif.) called for JPMorgan Chase CEO Jamie Dimon to apologize for the tweet. "And if this tweet does reflect Mr.Dimon’s views, an apology won’t cut it. Might be a #TimetoRetireThursday," she added.

Why it matters: America's big banks are facing heightened scrutiny in Congress. At a House Financial Services Committee hearing this month, Porter challenged Dimon, asking the billionaire how a single mother working as a Chase bank teller should budget her salary, after taking into account the cost of child care and other expenses.

What they're saying: JPMorgan Chase later deleted the tweet and addressed the controversy in a follow-up Twitter post.

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Warren attacks JPMorgan Chase for financial advice tweet to customers

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