Jamie Dimon may no longer be President Obama's favorite banker, but the president is still apparently a fan of Dimon's bank.
Citing financial disclosure forms released by the White House Tuesday, several news outlets reported that the president and Michelle Obama have between $500,000 and $1 million in a private client checking account at JPMorgan Chase.
The news comes just days after JPMorgan Chase disclosed an embarrassing $2 billion trading loss that Obama and many members of Congress have pointed to as evidence that large banks need to be more tightly regulated.
"JPMorgan is one of the best banks there is," Obama said in an interview on "The View" Tuesday. "Jamie Dimon, the head of it, is one of the smartest bankers we got, and they still lost $2 billion and counting."
Obama and Dimon became acquainted when both lived and worked in Chicago and in the early days of the financial crisis media reports would often cast Dimon as the banker the president most trusted.
The relationship appears to have soured in recent years, however, as Obama pushed for Wall Street reform while Dimon emerged as the highest-profile banker to fight additional regulation — particularly a provision in the Dodd-Frank Act that limits banks' proprietary trading.
Asked in the spring of 2010 if he was still Obama's favorite banker, Dimon replied, "I heard he has a new one."