The CEO of JPMorgan Chase, the largest slope successful the U.S. pinch $3.4 trillion successful assets, is taking a patient stance against national regulations.
JPMorgan Chase CEO Jamie Dimon said retired astatine the American Bankers Association normal successful New York City connected Monday against "overlapping" national rules connected paper payments, unfastened banking, and different areas, stating that "it's clip to conflict back."
"We are suing our regulators complete and complete and complete because things are becoming unfair and unjust, and they are hurting companies, a batch of these rules are hurting lower-paid individuals," Dimon stated, per Reuters.
Related: JPMorgan Is Suing Customers Over 'Infinite Money Glitch' TikTok Trend
JPMorgan threatened to sue the U.S. Consumer Financial Protection Bureau (CFPB) successful August complete user protections astir Zelle payments. The CFPB was looking into JPMorgan and different banks for illustration Wells Fargo to spot really they responded to Zelle scams.
The Bank Policy Institute and Kentucky Bankers Association sued the CFPB past week, stating that the CFPB overstepped its authority pinch a recent unfastened banking rule that allows customers to stock their spending and redeeming histories betwixt financial institutions.
Jamie Dimon. Photo by Kevin Dietsch/Getty Images
This isn't the first clip Dimon has called retired slope regulations. In his annual missive to shareholders, released successful April and numbering 60 pages, Dimon included a conception titled "Giving the slope regulatory and supervisory process a superior review."
"Unfortunately, immoderate caller regulations are ending up successful court," he wrote. "You tin ideate that nary 1 wants to writer their regulators. Banks would not writer if they did not deliberation they were correct — aliases if they thought they had immoderate different recourse — which they efficaciously do not."
Related: JPMorgan Chase CEO Jamie Dimon Isn't Worried About AI Taking Over Jobs — Here's Why
Dimon wrote successful his shareholder missive that "both regulators and banks should want the aforesaid point — a patient banking system, serving its clients and striving for continuous improvement" and asked for collaboration and a constructive narration betwixt regulators and banks to create a patient system.
Dimon was worthy $2.4 billion astatine the clip of writing.
English (US) · 
Indonesian (ID) ·