A House Financial Services Committee hearing featuring seven large-bank CEOs tackled a host of contentious subjects, as Republicans and Democrats sparred over whether such institutions are simply too big.
He would be the second controversial pick by the president to join the central bank in the past few weeks; the JPM CEO said there are too many “onerous and unnecessary” rules.
The CEO of the nation's largest bank urged policymakers to ease capital rules for banks and tackle inefficiencies in the housing markets, while offering bold ideas of his own on education and health care.
Jamie Dimon, in his 51-page annual letter to shareholders, warned investors to get ready for more wild rides like the one that upended markets at the end of last year.
Hundreds of thousands of jobs have disappeared on Wall Street since the 2008 financial crisis and some of the biggest banks haven't stopped cutting. Still, some firms managed to reverse the trend and are slowly boosting staff levels.
The bank said it will look outside the company for a replacement; HUD alleges the social media giant allowed real estate firms to target groups in their advertising.
They haven't thrown in the towel yet, but comments by top executives at the two big banks suggested that their interest in finding financial services uses for distributed ledgers is wearing very thin.
