Jamie Dimon: Tech giants should get prepared for 'full monty' of regulatory onslaught

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J.P. Morgan Chase CEO Jamie Dimon said that tech giants should gird themselves for the type of regulatory onslaught that the big banks experienced after the financial crisis.

“They haven’t had the benefit of the full monty yet,” Dimon said in an interview with Kayla Tausche on CNBC’s “The Exchange.” He added that “if I were them, I’d be getting prepared for it.”

Dimon’s experience, he said, with the type of attention that companies like Facebook and Google are undergoing, is that
“it’s a lot of work,” he said. “When you get attacked by someone, you get one group, it could be every country, every AG, every regulator, all at the same time.”

Earlier Wednesday, Dimon, 63, spoke at an event with the Business Roundtable, a Washington D.C.-based group of corporate CEOs, and the Greater Washington Partnership, a business group for the D.C. region. Earlier this week, Dimon unveiled a $350 million program to boost job prospects for under-served communities, including minorities and people who have completed prison sentences.

Pushing for corporations and local organizations to boost job training, Dimon said Monday that its “absolutely obvious that a big chunk of [people] have been left behind” in the American economy.

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