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Jamie Dimon warns capital rules pose 'significant economic risk'

JPMorgan CEO says higher buffer 'handicaps' banks when they should be lending more

Critics such as JPMorgan CEO Jamie Dimon, above, have complained that capital requirements rules are now too strict. "This is bad for America," he wrote to Congress.   © Reuters

NEW YORK (Financial Times) -- Jamie Dimon, chief executive of JPMorgan, has warned U.S. lawmakers that capital requirements for large banks pose "a significant economic risk" that is curtailing their capacity to lend to homebuyers and other customers.

Dimon said "the continued upward trajectory" of capital requirements is making it harder for banks to meet customer needs just as "storm clouds" are gathering on the horizon for the U.S. economy.

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