U.S. bank CEOs face congressional grilling by Democrats and Republicans

— Eddie

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The chief executives of major U.S. banks are facing a grilling by both Democratic and Republican lawmakers.  

They will be asked about the economy, consumer protections and stances on fossil fuel lending and firearms. 

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The heads of the four largest U.S. banks are set to testify before Congress.  

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They will be joined by US Bancorp (USB) CEO Andy Cecere, PNC Financial (PNC) CEO William Demchak and Truist's (TFC.N) Bill Rogers. 

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Democrats pressed bank executives on fees, the closure of bank branches in poorer areas and the implications of several larger mergers. 

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While such hearings rarely result in legislative action, they are still risky for CEOs at a time  

when lawmakers are looking to boost their profiles ahead of November elections. 

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"We’re going to hear Democrats encourage banks to make lending decisions based off 'woke' politics rather than credit worthiness," he said. 

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