Key Points
- JPMorgan Chase CEO Jamie Dimon said Tuesday that bankruptcies in the U.S. auto market are a sign that lending standards grew too lax in the past decade-plus.
- Dimon, the longtime leader of the largest U.S. bank by assets, was speaking about the recent collapse of auto parts firm First Brands and subprime car lender Tricolor Holdings.
- “These are early signs there might be some excess out there,” Dimon said. “If we ever have a downturn, you’re going to see quite a bit more credit issues.”
