Dem. Rep. Slams Chase Bank Tweet that Discouraged Wasteful Spending

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Jamie Dimon, chairman and CEO of JP Morgan Chase & Co., arrives to testify before a House Financial Services Committee on Capitol Hill in Washington, D.C., April 10, 2019. (Aaron P. Bernstein/Reuters)

Representative Katie Porter (D., N.Y.) lashed out Tuesday at a Chase Bank tweet that encouraged customers to cut down on wasteful spending, arguing that the message was “insulting” to hard-working families struggling to pay their rent.

Porter was asked during a CNN interview about her combative Twitter exchange with the bank, in which she took issue with the notion that Chase’s customers are spending “frivolously.”

“I was glad they took the tweet down. I think it’s insulting to the hard-working American people, many of whom are earning minimum wage or just above that, who are struggling to pay rent, health insurance, and other costs. . . . I think they should apologize to their customers; that’s obviously they’re business decision,” Porter told CNN’s Alisyn Camerota.

Senator Elizabeth Warren (D., Mass.) joined Porter Monday in denouncing the tweet as insensitive to Americans struggling to make ends meet.

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Chase subsequently deleted the tweet and apologized.

The social-media controversy comes after Porter grilled Chase CEO Jamie Dimon during a House hearing earlier this month, asking him how a bank teller making $16.50 an hour could bear the cost of child care and other essentials. A video of the exchange went viral, earning over 1 million views.

Dimon defended Chase’s entry-level wages to reporters following the hearing.

“We take very good care of our entry-level jobs: $35,000 to $37,000 per year, medical, retirement,” he said.

Porter concluded her CNN appearance Tuesday by questioning Dimon’s commitment to ensuring “prosperity for every American family” by lowering health-care costs and increasing wages.

“He’s one of America’s business leaders and I would welcome his help in trying to solve the problems American families are facing, not belittle them,” she said.

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