JPMorgan Chase CEO Jamie Dimon resoundingly assured lawmakers that his bank has no intention of stopping the financing of growth in the oil patch.
Dimon, who appeared with other top banking executives on Capitol Hill Wednesday, was asked by Rep. Rashida Tlaib, the Democrat of Michigan, to give a ‘yes’ or ‘no’ response to a handful of questions. That included whether JPMorgan JPM, -3.16% has a policy against funding new oil and gas products.
“Absolutely not and that would be the road to hell for America,” said Dimon, whose bank is the largest U.S. provider of loans and other capital to the energy sector.
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