Dimon Says Futile for Banks to Fight U.S. on Fines, Settlements

Dimon: Impossible for Banks to Fight U.S. Government

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said banks had little choice to pay fines and settle with regulators in the wake of the financial crisis.

“It’s impossible for a bank to fight the United States government,” Dimon, 59, said Monday in a Bloomberg Television interview. The alternative would be to do battle in court and have to pay anyway, he said.

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