Ocasio-Cortez, other Democrats squeeze big banks on guns, immigration, climate

Ocasio-Cortez, who has nearly 3.8 million Twitter followers, received more than 30,000 retweets this week for three posts targeting JPMorgan Chase and Wells Fargo.

“There’s more than one way to skin a cat, and not everything has to be done through legislation explicitly,” Ocasio-Cortez told POLITICO. “We can also use the tools that we have here to pressure change in other ways as well.”

…“Banks are acutely sensitive about their reputations because they are in a business acutely susceptible to severe and sudden customer attrition if consumers vote with their wallets,” Federal Financial Analytics managing partner Karen Shaw Petrou said, citing Wells Fargo, the San Francisco-based lender that’s reeling from a series of embarrassing scandals. “As a highly regulated business, banks are also acutely aware of how changing reputations alter their political-risk profile and what Congress can do to them when and if desired.”

Ocasio-Cortez, other Democrats squeeze big banks on guns, immigration, climate – POLITICO

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