There are so many reasons — the credit cycle, the plight of small banks or competition from Amazon and foreign banks — that the head of JPMorgan could live to regret that statement.
The subprime lender could lose a big partner now that Fiat Chrysler has officially announced it will form its own auto finance unit, and the two are negotiating an end to their 6-year-old relationship.
The agency’s recent bulletin could help banks get back into the small-dollar lending business, keeping needy borrowers out of debt traps. But other regulatory limits remain in focus.
