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JPMorgan Chase CEO Dimon says consumers are good, new banking regs are bad

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Dimon rails against a 1,100-page proposal by FDIC to increase capital requirements as 'hugely disappointing' and separately praises healthy U.S. consumers

JPMorgan Chase & Co. chief executive Jamie Dimon called a 1,100-page proposal from federal regulators to require banks to hold more capital looms “hugely disappointing,” and warned that the regulation would cause more market volatility down the road.

Dimon was more positive about the “pretty good” state of the U.S. consumer, which has been driving the economy. As the new capital requirement rules are currently drafted, JPMorgan Chase & Co. JPM, +1.19% will have to hold 30% more risk-weighted assets than European banks.

 

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