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US lawmakers subpoena JPMorgan, BofA over CATL IPO scrutiny

The US House Select Committee on China has issued subpoenas to JPMorgan Chase CEO Jamie Dimon and Bank of America CEO Brian Moynihan.

The move concerns their banks’ role in underwriting the IPO of Chinese battery giant CATL.

The US government accused CATL of ties to China’s military and added it to a list of such entities in January.

CATL denies the claims, stating it is “not engaged in any military-related activities.”

The committee first requested information in April. Bank of America submitted 10 documents, nine of which were already public. JPMorgan sent only one public document.

The panel says it still hasn’t received all the requested materials. The banks have until August 8 to comply.

A Bank of America spokesperson said the bank is cooperating. JPMorgan declined to comment.

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