NEW YORK—JPMorgan Chase CEO Jamie Dimon this week said he has “mixed” feelings about the Trump Administration’s proposed rewrite of bank capital rules, calling the latest plan an improvement over the Biden-era draft but saying parts of it remain “frankly nonsensical,” in the latest sign Wall Street’s biggest banks are still pressing regulators for more relief, Law360 said.
The comments came in Dimon’s annual shareholder letter and in follow-on coverage Monday, where he said the revised framework would reduce JPMorgan’s global systemically important bank, or GSIB, surcharge only to about 5%—down from the current level but still, in his view, leaving the firm with an outsized capital burden. Reuters reported Dimon said the latest proposal is “far better” than the Biden Administration’s 2023 Basel III endgame draft, but he argued it remains flawed and too punitive for large, successful banks.
The debate centers on a March move by federal regulators to soften capital requirements for the largest U.S. banks after an intense industry pushback to the original 2023 proposal. The Guardian reported the Federal Reserve was expected to lower capital requirements for the biggest banks by roughly 4.8%, a shift widely viewed as a major win for firms such as JPMorgan, Goldman Sachs and Morgan Stanley after banks argued the tougher standards would curb lending, raise costs and push activity into less-regulated corners of finance.
For banks—and, indirectly, credit unions—the fight matters because capital rules shape pricing, competitive flexibility and how aggressively large institutions can lend or absorb market shocks. While the rollback would ease pressure on the biggest banks, Dimon’s criticism underscores that the industry’s broader campaign against post-crisis capital tightening is far from over, with large-bank CEOs still seeking further changes even after regulators already moved off the tougher Biden-era approach, according to Law360.