At JPMorgan's investor day earlier this week, CEO Jamie Dimon voiced cautious optimism that the new cohort of regulators in the Trump Administration will address what he sees as over a decade of regulatory overreach and duplication, as reported by Banking Dive.
Since the global financial crisis, Dimon argued, regulators have instituted unwieldy and overlapping regulations, pushing credit, payments, and mortgage activity outside the banking system, and increasing systemic risk via regulatory arbitrage. CFO Jeremy Barnum echoed the concern, warning that overly complex regulation creates risk, rather than reducing it. With JPMorgan sitting on $60 billion in excess capital, frustration is mounting over rules the bank views as not just costly, but incoherent.
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