‘Woke capitalism’: Tim Scott presses big bank CEOs over Georgia voting law

Published May 26, 2021 12:00am ET



Sen. Tim Scott attacked “woke capitalism” in a hearing with Wall Street’s biggest bankers and questioned them about what aspect of Georgia’s new voting law is actually discriminatory.

The South Carolina Republican made the remarks on Wednesday during a major banking committee hearing with the chief executives of JPMorgan Chase, Wells Fargo, Bank of America, Goldman Sachs, Morgan Stanley, and Citigroup. He began by highlighting the apparent shift from shareholder capitalism toward stakeholder capitalism, which argues that corporate entities shouldn’t just prioritize shareholders but also focus value on customers, employees, suppliers, and communities.

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