Chase tried to tell customers why they don’t have much money. Elizabeth Warren wasn’t having it.
“Our #MondayMotivation is to get better at #MondayMotivation tweets.”
Sen. Elizabeth Warren hit back at JP Morgan Chase Bank on Monday after the financial giant tried to give its customers some “#MondayMotivation” for saving money.
In a tweet around 1:57 p.m. on Monday, which has since been deleted, the company posted a hypothetical conversation between a person and their bank account, with the customer wondering why their bank account is “so low”:
You: why is my balance so low
Bank account: make coffee at home
Bank account: eat the food that’s already in the fridge
Bank account: you don’t need a cab, it’s only three blocks
You: I guess we’ll never know
Bank account: seriously?
Chase tagged the tweet with the hashtag #MondayMotivation, and the post drew quick backlash, including from the Massachusetts senator and 2020 presidential candidate.
Warren mimicked Chase’s format in her response, saying that the reason why the bank’s customers aren’t saving money is because they “lost [their] jobs/homes/savings but gave you a $25b bailout.”
.@Chase: why aren’t customers saving money?
Taxpayers: we lost our jobs/homes/savings but gave you a $25b bailout
Workers: employers don’t pay living wages
Economists: rising costs + stagnant wages = 0 savings
Chase: guess we’ll never know
Everyone: seriously?
#MoneyMotivation pic.twitter.com/WcboMr5MCE— Elizabeth Warren (@SenWarren) April 29, 2019
According to NBC News, JP Morgan raised the salary of its CEO Jamie Dimon to $31 million. Dimon was also recently questioned at a House Financial Services Committee hearing about the wages the bank pays to low-level employees.
Warren wasn’t the only politician to criticize the bank for the post. California Rep. Katie Porter referenced the CEO’s appearance before lawmakers in her response.
“Hey @Chase, try paying your workers more. Families aren’t spending frivolously; they’re trying to pay rent,” she said, adding, “Mr. Dimon, you couldn’t figure out how to balance an example JPMC teller budget but said you’d ‘think about’ how one might make ends meet. Is this what your crackerjack leadership team came up with?”
Mr. Dimon, you couldn’t figure out how to balance an example JPMC teller budget but said you’d “think about” how one might make ends meet. Is this what your crackerjack leadership team came up with? https://t.co/4IDc2yLUL9
— Rep. Katie Porter (@RepKatiePorter) April 29, 2019
And if this tweet does reflect Mr.Dimon’s views, an apology won’t cut it. Might be a #TimetoRetireThursday.
— Rep. Katie Porter (@RepKatiePorter) April 29, 2019
Chase did not immediately respond to a request for comment on Tuesday. But the company posted a tweet about an hour after their original post thanking “Twitter world” for the feedback.
https://twitter.com/Chase/status/1122937146040627205
