JPMorgan CEO Jamie Dimon Challenges New U.S. Banking Regulations

Dimon criticizes the Biden-Harris administration's regulatory approach, urging banks to push back against what he calls unfair rules.

Jamie Dimon, CEO of JPMorgan Chase, has called for banks to resist what he describes as an 'onslaught' of regulations from the current U.S. administration.
Dimon argues that overlapping and poorly designed rules are harming companies and lower-paid individuals, citing capital requirements and open banking as key issues.
The Basel III proposal to increase big bank capital by 9% is a major point of contention, with Dimon labeling some of its calculations as 'stupid.'
Dimon has expressed concerns over the Consumer Financial Protection Bureau's new open banking rule, fearing it could jeopardize consumer data security.
With the upcoming U.S. presidential election, Dimon suggests that the future of these regulatory proposals remains uncertain.