As a series of U.S. lenders were besieged by customers yanking out their money this month, banking behemoths JPMorgan Chase & Co , Citigroup Inc and Bank of America Corp. , warned employees: Do not make it worse.
JPMorgan, the nation's largest bank, told all employees they "should never give the appearance of exploiting a situation of stress or uncertainty," in a March 13 memo, extracts of which were seen by Reuters. "We do not make disparaging comments regarding competitors."
Citigroup has also given similar guidance to its business heads, a source familiar with the matter said. The guidance includes not speculating about other banks or market rumors. The bank runs that toppled Silicon Valley Bank and Signature Bank, the second and third largest lenders to fail in U.S. history, prompted customers to
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