Elizabeth Warren rips Chase Bank over 'Monday motivation' tweet
Sen. Elizabeth Warren, D-Mass., ripped Chase Bank after the financial institution tweeted a “Monday motivation” tip to customers with low bank account balances.
Chase’s now-deleted post featured a fictional conversation between a person and their bank account, in which the person ignored money-saving tips like making their morning coffee at home instead of buying it at a store. The tweet drew immediate backlash on social media from many critics, including Warren, who saw it as a tone-deaf attack on lower-income Americans.
Mimicking the format Chase used in its original tweet, Warren pointed out that the bank received a $25 billion taxpayer-funded bailout in the wake of the 2008 financial crisis. The 2020 presidential hopeful also reiterated her common assertion that leading employers don’t pay a living wage to their employees.
A frequent critic of corporate malpractice, Warren emerged as Wells Fargo's staunchest detractors after the bank was linked to a series of scandals related to its sales practices. Warren has identified a breakup of big tech companies such as Amazon and Google as one of her key platform issues for the 2020 election cycle, arguing that the firms have pursued anti-competitive mergers and business initiatives.
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Chase Bank's tweet came weeks after JPMorgan Chase CEO Jamie Dimon faced tough questions from the House Financial Services Committee over its pay practices for entry-level employees. The institution addressed the criticism of its tweet in a second post.