Jamie Dimon, CEO of JPMorgan Chase, testifies during the Senate Banking, Housing, and Urban Affairs Committee hearing titled Annual Oversight of the Nations Largest Banks, in Hart Building on Sept. 22, 2022.
Tom Williams | CQ-Roll Call, Inc. | Getty Images
JPMorgan Chase executives warned Friday that tougher regulations in the wake of a trio of bank failures this year would raise costs for consumers and businesses, while forcing lenders to exit some businesses entirely.
When asked by Wells Fargo analyst Mike Mayo about the impact of changes proposed by Federal Reserve Vice Chair for Supervision Michael Barr in a speech earlier this week, JPMorgan CEO Jamie Dimon said that other financial players could end up winners.
“This is great news for hedge funds, private equity, private credit, Apollo, Blackstone,” Dimon said, naming two of the largest private equity players. “They’re dancing in the streets.”
Blackstone and Apollo didn’t immediately respond to requests for comment on Dimon’s…
2023-07-14 11:09:41
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