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SunTrust’s Rogers Says JPMorgan Loss ‘Black Eye’

JPMorgan Chase & Co.’s $2 billion loss on synthetic credit securities bolsters the case of banking critics pushing for tighter regulations on proprietary trading, SunTrust Banks Inc. Chief Executive Officer William Rogers said.

“It is a black eye for the industry,” Rogers said in an interview with Bloomberg Television’s “In the Loop” from Atlanta. “It would certainly embolden those on the Volcker side of that equation,” referring to the so-called Volcker rule setting restrictions on trading.