Goldman Sachs

Bank CEOs pressed to stop working with gun makers

JP Morgan CEO James Dimon(L) and others are sworn in before they testify before the House Financial Services Committee
JPMorgan CEO Jamie Dimon and other bank CEOs sworn in ahead of House Financial Services Committee hearing. Photo: Mandel Ngan/AFP via Getty Images

Members of the House Financial Services Committee asked CEOs of the biggest financial institutions — JPMorgan, Goldman Sachs, State Street, Citigroup, Bank of America, Morgan Stanley and BNY Mellon — about their relationships with the gun industry during a hearing on Wednesday, among other social and consumer-driven issues.

Details: In response to a question from Rep. Carolyn Maloney (D-N.Y.) about whether JPMorgan would "adopt a formal policy" for its relationships with gun manufacturers, CEO Jamie Dimon defended the bank's current policy but said the company would "consider" adopting a responsible lending plan. In the wake of several mass shootings, Citigroup and Bank of America last year re-evaluated their business dealings with makers and sellers of firearms.

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Adapted from CivicScience; Chart: Andrew Witherspoon/Axios