Jamie Dimon: I'm not sure Elizabeth Warren understands banking

JPMorgan Chase CEO Jamie Dimon says he is not sure whether Elizabeth Warren understands how international banking works.

“I don’t know if she fully understands the global banking system,” Dimon said Wednesday at an event for the Executives’ Club of Chicago, according to Bloomberg. Dimon, who reportedly expressed broader concern about leadership in Washington, said he would meet with the Democratic senator whenever she wants.


According to the report, Dimon recalled meeting with Warren during the Consumer Financial Protection Bureau’s founding to talk credit cards.

“By the way, I have your credit card, and I love it,” Warren told him, Dimon said.

The liberal Massachusetts senator, a member of the Senate Banking Committee, has railed against the power of big banks in the aftermath of the 2008 financial crisis, calling it a mistake on the part of the U.S. government not to break up financial institutions like Citigroup.

“The finance guys argue that if you’re never in the club, you can’t understand it, but I think they have it backward,” Warren said in an April speech. “Not being in the club means not drinking the Kool-Aid.”

In March, after Reuters reported that banks were weighing whether to halt their own donations to Warren (a largely symbolic move), the firebrand senator blasted out an email to supporters asking for donations.

“The big banks have issued a threat, and it’s up to us to fight back,” Warren wrote in the message.

Dimon is a longtime Democratic donor, though he has given relatively more to Republicans in recent years. In 2012, he said he was “barely” still a Democrat.

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Jamie Dimon