White House officials have urged the chief executive officers of Goldman Sachs Group Inc., Bank of America Corp. and JPMorgan Chase & Co. to stop lobbying against a financial regulatory bill in Congress, Bloomberg News reported Wednesday on its Web site, citing unnamed people who attended a meeting on the matter.
U.S. President Barack Obama's senior adviser David Axelrod and National Economic Council Director Lawrence Summers met with Goldman Sachs chief Lloyd Blankfein, JPMorgan's Jamie Dimon, Bank of America's Brian Moynihan and about 12 other executives on April 6 at a Washington event hosted by the Financial Services Forum, the report cited the people as saying. It said they declined to be identified because the meeting was private.
The executives told the White House aides that they support a regulatory overhaul — but have concerns about the bill, which includes new rules for consumer protection and derivatives trading — the report said.
It said White House spokesman Matt Vogel declined to comment on the meeting.