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Bank CEOs express support for Supplemental Security Income reform. 'This definitely should be fixed,' Jamie Dimon says - TL;DR CNBC

Bank CEOs express support for Supplemental Security Income reform. 'This definitely should be fixed,' Jamie Dimon says

Publishing timestamp: 2023-12-06 16:16:28


Summary

Wall Street CEOs expressed support for updating the rules of the Supplemental Security Income (SSI) program, which provides benefits to elderly, blind, and disabled individuals with little to no income or resources. The program has not been updated in 40 years, leading to low asset limits that hinder saving and earning raises. A bill has been proposed to raise the asset limits and index them to inflation. The CEOs and lawmakers discussed the need for reform during a Senate Banking Committee hearing.


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Keywords: wells fargo & cogovernment welfare systemslegislationpovertyconsumer bankingpersonal investingpersonal financecitigroup incu.s. social security administrationjpmorgan drnsocial securitybusiness newsretirement planningjamie dimonfamily financespersonal savinggoldman sachs group incstate street corpmorgan stanleypersonal debtemployee benefitsgovernment pensions and social securitybank of america corp

Source: https://www.cnbc.com/2023/12/06/bank-ceos-show-support-for-ssi-reform-bill.html


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