JPMorgan Chase & Co. chief executive Jamie Dimon said during his company's annual investor day Thursday that he has been turned off by the "capricious, arbitrary and punitive behavior" of regulators since his company accepted $25 billion in aid as part of the bailout of the financial industry in 2008.
While the company has since returned that aid with interest, JPMorgan Chase [JPM] has been lumped in with all of the troubled institutions that may have acted irresponsibly in the run-up to the financial crisis, Dimon said. It is also facing a slew of new accounting rules, federal fees and other regulatory changes that could sap its bottom line.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access