JPM, C & Others Face Pressure to Lend More Than Reward Shareholders

Key Takeaways Six major banks face pressure from senators to boost lending instead of dividends and buybacks.Letters to CEOs cite concern that shareholder rewards come at the cost of stability and growth.Recent dividend hikes and buyback plans by JPMorgan, Citigroup and others drew senators' criticism.Six of the largest banks, including JPMorgan (JPM) , Citigroup (C) , Wells Fargo (WFC) , Morgan Stanley (MS) , Bank of America and Goldman Sachs, have been instructed by U.S. Senators Elizabeth Warren and Bern ...