JPMorgan's Dimon says annual regulation costs to top $1 billion

Published October 10, 2012

| Reuters

WASHINGTON – JPMorgan Chase & Co Chief Executive Jamie Dimon said annual overhead costs from new domestic and international regulations will likely reach more than $1 billion.

Dimon, speaking at a Council on Foreign Relations event on Wednesday, said the costs come from the 2010 Dodd-Frank financial reform law, as well as heightened international capital standards and EU regulations.

(Reporting By Karey Wutkowski; Editing by Gerald E. McCormick)

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