By Douglas Gillison, Nupur Anand, Pete Schroeder, Isla Binnie
AT a JPMorgan townhall meeting this week, CEO Jamie Dimon was asked whether the Trump administration’s decision to abruptly stop work at the Consumer Financial Protection Bureau (CFPB) and question its existence was good news for the industry.
Dimon told his employees that it was hard for the bank when “policies flip back and forth” and that he preferred consistent policies. The CFPB had some good consumer protection rules, especially when it came to areas like payday lenders, he said, according to a recording of the meeting that Reuters reviewed.
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