Wall Street banks made record profits in 2020 despite the financial peril of many consumers, leading the six largest banks to testify before Congress. Citigroup, JP Morgan Chase, Bank of America and Wells Fargo were unable to respond “yes” when asked if they automatically waived customers’ overdraft fees during the pandemic as the Federal Reserve encouraged.

According to Warren, a Massachusetts Democrat, JP Morgan Chase’s 2020 profits still would have been more than $20 billion if it had followed the guidance of federal regulators.

“I appreciate that you want to duck this question. Do you know how much your profits would have been if you had actually waived overdraft fees as the regulators recommended?” Warren asked. “The answer is your profits would have been about $27.6 billion. I did the math for you.”

Dimon repeatedly responded to Warren’s line of questioning by saying the company waived overdraft fees for customers who called and explained their financial need.

Warren said the Federal Reserve automatically waived fees for banks’ overdrafts on their Federal Reserve accounts, and regulators recommended that banks automatically waive consumers’ overdraft fees.

The hearing is the first time since Democrats gained power in the Senate and White House that top bankers have appeared for public questioning. Warren, a staunch consumer advocate, lambasted Dimon and Wall Street in general for posing as compassionate to the plight of Americans while continuing to charge them billions in unnecessary fees.

“So here’s the thing: You and your colleagues come in today to talk about how you stepped up and took care of customers during the pandemic, and it’s a bunch of baloney. In fact, it’s about $4 billion worth of baloney, but you can fix that right now,” Warren said. “Mr. Dimon, will you commit right now the one-and-a-half billion dollars you took from consumers during the pandemic?”

Dimon responded with a succinct “no” to whether he would return the money to consumers. None of the other three banks who ignored the guidance responded when asked if they would return the fees.

“I didn’t think so,” Warren said. “So no matter how you try to spin it, this past year has shown that corporate profits are more important to your bank than offering just a little help to struggling families, even when we are in the middle of a worldwide crisis.”

A JP Morgan Chase spokesperson told Newsweek that while the $1.4 billion is accurate, JP Morgan Chase does not charge overdraft fees on debit card transactions if the customer has a positive balance at the time they made the transaction, among other protections meant to help customers avoid overdraft fees.

“Last year, when customers said they were struggling, we waived fees on over 1 million deposit accounts, including overdraft fees, no questions asked,” the spokesperson said.

Warren could not be reached for comment in time for publication.