U.S. lawmakers have subpoenaed the CEOs of JPMorgan Chase and Bank of America, demanding documents related to their involvement in the initial public offering (IPO) of Chinese battery giant CATL. The House Select Committee on China is scrutinizing the banks' roles due to concerns over CATL's alleged ties to China's military and national security risks. Lawmakers argue that facilitating the IPO could help Beijing fund activities contrary to U.S. interests. This move highlights growing tensions between financial interests and national security in U.S.-China relations. The investigation signals increased regulatory and reputational risks for U.S. banks involved in Chinese tech deals.
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