Sen. Warren Questions Preparedness of Banks for Coronavirus Outbreak
Saturday, February 29, 2020
U.S. Senator and 2020 presidential candidate Elizabeth Warren (D-MA) sent letters to the CEOs of Citigroup, JPMorgan Chase, Goldman Sachs, Bank of America and Morgan Stanley asking about how they are preparing for a coronavirus outbreak.
Read the Letter Here
This comes after the Centers for Disease Control and Prevention (CDC) confirmed the possible instance of community spread of the virus on Wednesday and more cases Friday night.
“As a globally systemic important bank, your institution and the customers it serves could be impacted either directly through exposures to areas where the virus has spread or indirectly through a change in market conditions caused by disruptions in supply chains, a drop in tourism or travel, or numerous other factors that could cause a slowdown in economic growth,” wrote Warren.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTShe added, “I ask that you provide information regarding how you evaluate the risks to your institution and its customers associated with coronavirus, the extent to which your institution is exposed to those risks and prepared to absorb their impact, and how you are monitoring the developments going forward.”
Warren asked the banks for a response by March 13.
Latest on Coronavirus
As of Friday, the coronavirus has killed at least 2,800 people worldwide, most of which were in China.
There have been more than 82,000 global cases, including at least 11 European countries and more than 1,700 cases in South Korea.
As GoLocalProv reported on Friday, a Rhode Island’s Matt Zimmerman with Farsounder returned from South Korea on Sunday and was not checked at Logan Airport in Boston.
“I didn't talk with anyone, I didn't any see cameras set up anywhere (for temperature checks). I saw two custom border patrol agents wearing masks. That was it,” Zimmerman told GoLocal.
Zimmerman said he believed at least 90% of the passengers on the flight back from Tokyo Sunday were wearing masks, and said he has continued to wear one since returning and plans to do so for a full ten days.
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