Sen. Vitter: Banks Need 'Systemic Reform' -CNBC

Date : 06/13/2012 @ 5:56PM
Source : Dow Jones News
Stock : JP Morgan Chase & Co. (JPM)
Quote : 87.0  -0.61 (-0.70%) @ 7:41PM

Sen. Vitter: Banks Need 'Systemic Reform' -CNBC

JP Morgan Chase (NYSE:JPM)
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Sen. David Vitter (R., La.), who questioned J.P. Morgan Chase & Co. (JPM) Chief Executive James Dimon in a Senate hearing Wednesday, believes the largest banks need "systemic reform", he said in an interview on CNBC.

He added that while it's impossible to know if the pending Volcker rule will be successful in reining in banks from making dangerous trades, raising banks' capital requirements would be a good starting point.

The lawmaker also said he was "nervous" about the Federal Reserve keeping interest rates near zero, citing inflation risks.

Website: www.cnbc.com

Write to nymonitoring@dowjones.com




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