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Dimon led bank CEOs to fend off tougher capital rules

Regulators discuss slashing proposed capital requirements in sign of banks’ increasing clout

Jamie Dimon advised his colleagues to lobby Fed Chair Jerome Powell and other Fed officials over the initial proposal.
Jamie Dimon advised his colleagues to lobby Fed Chair Jerome Powell and other Fed officials over the initial proposal. Photo: Victor J. Blue/Bloomberg News

WASHINGTON—JPMorgan’s Jamie Dimon and other big-bank CEOs played hardball with the Federal Reserve over proposals that the lenders hold more capital. Now, it looks like those tactics are paying off.

The Fed and two other federal regulators are moving toward a plan that would significantly lessen a nearly 20% mandated increase in capital for the biggest US banks, according to people familiar with the matter.

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