Jamie Dimon says auto company bankruptcies reveal ‘early signs’ of excess in corporate lending

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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.”

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