New York (Fortune) – President Obama is about to give the banks an earful about lending. But he may be a day late - and $116 billion short.
Obama will meet Monday with top executives of some of the nation's biggest lenders.
CEOs of 12 banks are expected, including the heads of American Express (AXP, Fortune 500), Bank of America, Capital One (COF, Fortune 500), Citigroup, JPMorgan Chase, Morgan Stanley, and Wells Fargo.
The president is expected to say he wants to see more loans for the sake of economic recovery. He'll also urge execs to curb compensation, to stop gouging customers with high credit card rates and hidden overdraft fees, and to support financial reform efforts.