Bank CEOs Rally Behind Supplemental Security Income Reform: "This Must Be Fixed," Says Jamie Dimon
Bank CEOs, including Jamie Dimon of JPMorgan Chase, expressed their support for reforming the Supplemental Security Income (SSI) program, which has not been updated by Congress in 40 years. The current asset limits of $2,000 for individuals and $3,000 per couple are considered outdated and regressive, trapping people in poverty. Other Wall Street executives, such as Charles Scharf of Wells Fargo and Jane Fraser of Citigroup, also voiced their support for the proposed changes. However, the reforms will require a vote from Congress to be implemented.