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4/6, 1:03 PM (Source: TeleTrader)
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JPMorgan earnings down in 2020 due to COVID-19 - Dimon

JPMorgan Chase & Co Chief Executive Officer Jamie Dimon (pictured) said on Monday the bank's earnings are expected to be down "meaningfully" in 2020. However, Dimon stressed that the company won't seek any regulatory relief.

He also added JPMorgan has plans to broaden benefits for clients who have been impacted by the coronavirus crisis. The company plans to introduce measures such as waivers for late fees and a 90-day grace period for mortgage and auto loan payments.

In his annual letter to shareholders, Dimon wrote that the bank is "working closely with all levels of government during this crisis, and while we will participate in government programs to address the severe economic challenges, we will not request any regulatory relief for ourselves."

Breaking the News / TF