JPMorgan CEO Issues Call to Fight Against Banking Regulations

NEW YORK - JPMorgan Chase & Co. (NYSE:JPM) CEO Jamie Dimon criticized a series of regulatory measures impacting the banking sector at a conference held on Monday. Dimon expressed a more confrontational attitude toward initiatives on capital rules, card payments, and open banking, opposing these efforts.

According to Dimon, banks typically hesitate to challenge regulators out of fear of increased penalties. However, he argued that the time has come for financial institutions to be more assertive. "It’s time to resist," he stated, reflecting his belief that banks should not shy away from engaging with regulators on these issues.

The CEO's remarks come at a time when the banking sector is facing heightened scrutiny over regulatory practices. Dimon's call to action suggests a potential shift in how banks engage with regulators and could lead to a more open dialogue or discussion regarding the financial regulations governing their operations.