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Dimon to Shun Mortgage Ownership Under Proposed Capital Rules

Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., said the bank probably won’t keep mortgages on its books under a plan requiring the largest lenders to hold extra capital.

The proposal will distort U.S. markets, what consumers pay for credit and the types of risk banks would be willing to retain on their balance sheets, Dimon said today at a Sanford C. Bernstein & Co. investor conference in New York.