Background

JPMorgan Chase CEO Jamie Dimon stated on Tuesday that his bank was unlikely to acquire any more failing lenders in the future. This announcement was made after the bank’s government-brokered purchase of First Republic.

Dimon’s Response

Dimon replied with “unlikely” to a shareholder’s inquiry about further acquisitions during the bank’s annual shareholder meeting in New York.

Importance of Regulations

Dimon also added that the turmoil experienced by mid-sized banks following the Silicon Valley Bank collapse in March demonstrated that just meeting regulatory requirements was not enough.

Shareholder Questions

Investors in the biggest U.S. bank by assets raised concerns about the bank’s plan, views on controversial political subjects, and use of AI tools, including ChatGPT.