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Banks Face Regulatory Clarity Threat, JPMorgan’s Frenkel Says

The banking industry is threatened by a lack of regulatory clarity, said Jacob Frenkel, chairman of JPMorgan Chase International.

Frenkel also said there is an excessive focus on taxing the rich, while higher taxes on corporations won’t help promote employment. He spoke in a Bloomberg Television interview from the sidelines of the World Economic Forum in Davos, Switzerland.

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