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Dimon Says Banks to Have More Capital Than They Can Use

Jamie Dimon, the chief executive officer of JPMorgan Chase & Co., said banks are accumulating more capital than they need as regulators push lenders to build equity.

“I don’t think it’s just JPMorgan,” Dimon said yesterday at a conference discussing the New York-based company, which disclosed plans to eliminate as many as 19,000 jobs. “I think all banks will have too much capital in two and a half years. And they’re not going to know what to do with it.”