Dimon Pledges to improve JPMorgan’s Methods on Payday Advances

Dimon Pledges to improve JPMorgan’s Methods on Payday Advances

Jamie Dimon, the executive that is chief of Chase, vowed on Tuesday to improve the way the bank relates to Internet-based payday lenders that automatically withdraw re re payments from borrowers’ checking reports.

At an investor conference on Mr. Dimon called the training, that was the topic of a write-up into the nyc days on Sunday, “terrible. tuesday” He stated JPMorgan had been examining the problem and will make modifications.

While JPMorgan Chase will not directly make the loans, the lender, as well as other leaders like Bank of America and Wells Fargo, enable the internet payday loan providers to subtract re re re re payments from clients’ checking reports, even yet in the 15 states where in fact the loans are prohibited entirely. Continue reading “Dimon Pledges to improve JPMorgan’s Methods on Payday Advances”