JPMorgan boss says firm is 'under assault'

Jamie Dimon

Jamie Dimon, grappling with multibillion-dollar legal costs and rising capital requirements at JPMorgan, lashed out at U.S. regulators for putting his bank 'under assault'.

'We have five or six regulators or people coming after us on every different issue', Dimon, 58, said Wednesday on a call with reporters after JPMorgan reported fourth-quarter results. 'It’s a hard thing to deal with'.

Bloomberg News reports that JPMorgan posted a drop in fourth-quarter profit amid $990m of legal expenses, about double what some analysts predicted.

The legal costs, mostly tied to probes into currency rate-rigging, follow even bigger payments in 2013 related to mortgage bonds sold before the 2008 crisis by JPMorgan and two firms it acquired.

To access the complete Bloomberg News article hit the link below:

JPMorgan CEO Dimon Says Banks ‘Under Assault’ by U.S. Regulators

JPMorgan Falls Most in Three Months on Trading Drop, Legal Costs

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