Reported 30 days ago
JPMorgan Chase CEO Jamie Dimon criticized U.S. financial regulations, claiming they impose unnecessary burdens on banks and consumers. At a recent conference, he stated, 'it's time to fight back' against overlapping and poorly designed rules, emphasizing that many banks feel threatened by regulators. Dimon expressed concerns about proposed capital requirements under Basel III and the Consumer Financial Protection Bureau's 'open banking' initiative, arguing that these policies could harm the banking system and consumer data security.
Source: YAHOO