JPMorgan CEO Jamie Dimon calls Indian-origin US official Rohit Chopra an 'arrogant son-of-a-b***h'
In a viral town hall, Jamie Dimon demands a full return to office for JPMorgan employees while criticising the CFPB and its director, Rohit Chopra.
Leaked audio from Jamie Dimon’s recent town hall with employees has gone viral, revealing his blunt stance on remote work. The JPMorgan Chase CEO made it clear that employees are expected to be in the office five days a week, leaving no room for flexibility. During the same meeting, he also criticised the Consumer Financial Protection Bureau (CFPB) – the US consumer watchdog agency previously shut down by Donald Trump – and its Indian-origin director, Rohit Chopra.
Created under the 2010 Dodd–Frank Wall Street Reform and Consumer Protection Act and beginning its work in 2011, CFPB says it has fielded more than 7.7 million complaints and returned nearly USD 20 billion to consumers in just over 13 years of existence. For Trump, however, the agency is a hotbed of “waste, fraud and abuse” whose only purpose is to “destroy people” and whose staff amounts to a “vicious group.”
Jamie Dimon on CFPB
Dimon agrees with Trump, at least in part. He acknowledged that the CFPB had done some good work but had no good things to say about its director, Indian-American businessman Rohit Chopra.
"The only thing good I'll say about the CFPB is there are consumer protective rules that are good. They should be put in place to protect consumers,” said Dimon during his testy town hall in Columbus, Ohio, as reported by Business Insider.
On the other hand, he noted that the same work is being done by several other agencies, making the CFPB redundant in his opinion.
“Having said that, they were duplicative. The OCC already did it. The Fed does it. The FHA does it. So we get it,” said the CEO of JPMorgan Chase.
On Rohit Chopra
The CEO was especially critical of Rohit Chopra, the Indian-American businessman who served as the third director of the Consumer Financial Protection Bureau.
“They massively overstepped their authority. I think this guy — Chopra or whatever his name is — was just an arrogant, out-of-touch son of a b***h who just made things worse for a lot of Americans.
“So if they get rid of it or not makes no difference to me. It should exist, but it should be inside the OCC like it used to be, when it comes to banks,” said Dimon.
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