JPMorgan's Dimon says annual regulation costs to top $1 billion

WASHINGTON Wed Oct 10, 2012 5:52pm EDT

WASHINGTON (Reuters) - JPMorgan Chase & Co Chief Executive Jamie Dimon said annual overhead costs from new domestic and international regulations will likely reach more than $1 billion.

Dimon, speaking at a Council on Foreign Relations event on Wednesday, said the costs come from the 2010 Dodd-Frank financial reform law, as well as heightened international capital standards and EU regulations.

(Reporting By Karey Wutkowski; Editing by Gerald E. McCormick)

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Comments (3)
JLWR wrote:
Am I to feel sorry for your $1B on regulations? You lost trillions of dollars for the American people on your lack of regulation criminal scams. I not only do not feel any sympathy for you bankers, I feel we need to reglate you to the max and watch you like hawks and I hope it costs you 100 times what it does now. I also want the fraud posed as 401Ks to go the way of the dinosaur and you have to go back to appealing to just your rich friends money to play with.

Oct 10, 2012 5:47pm EDT  --  Report as abuse
AlkalineState wrote:
Poor banks.

Oct 10, 2012 6:09pm EDT  --  Report as abuse
FreddEvil wrote:
If only you jerks didn’t CHEAT at every opportunity, you might not have to be regulated!!

Oct 10, 2012 6:53pm EDT  --  Report as abuse
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