‘STAR OF THE OVERDRAFT SHOW’

‘Baloney!’: Warren Attacks Jamie Dimon on Overdraft Fees

Things got heated during the Senate Banking Committee hearing.

Sen. Elizabeth Warren went after JPMorgan Chase CEO Jamie Dimon on the subject of overdraft fees during a committee hearing on Tuesday—saying that he and the other banking honchos who appeared are full of “baloney.” The Massachusetts Democrat called Dimon the “star of the overdraft show” and said his bank took higher fees than its competitors. Dimon lashed back, calling Warren’s analysis “inaccurate” but could not provide alternate numbers. He said JPMorgan Chase waived overdraft fees for those who asked. But Warren pointed out that regulators had recommended banks waive those fees automatically. “You and your colleagues come in today to talk about how you stepped up and took care of customers during the pandemic, and it’s a bunch of baloney,” she fumed.