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Marianne Lake runs JPMorgan Chase’s (JPM) portfolio of consumer banking services, making him one of the most powerful people in the industry.
He is too one of the frontrunners to replace CEO Jamie Dimon when a long-time boss decides to stop running the country’s largest bank.
The lake appeared last week at Goldman Sachs (GS) financial aid conference in Manhattan, giving investors a positive change about the performance of the bank in the fourth quarter (banking income will increase 45%) and 2025 (the main source of income will be $ 2 billion more than expected).
JPMorgan Pictures CEO of Consumer and Community Banking told investors there were “reasons to be optimistic” for 2025, a sentiment echoed by many in his industry last week as he cheered on the incoming Trump White House.
The hope is that lending and activity will increase as the new Republican administration loosens some regulations on banks and uses more leniency in accepting the type of corporate partnership which generates huge profits for the giants of Wall Street.
Read more: How do banks make money?
Banks also hope that the new administration will think twice about a controversial new capital rules proposed by top bank regulators which would require lenders to set aside larger reserves for future losses.
Lake, who is 55 years old, detailed his view in an interview with Yahoo Finance, and highlighted several topics at the forefront of his company.
Nyanja has not been shy in the past to express his concerns about laws and regulations that he and others argue have harmed banks and their customers.
Along with the proposal that could increase the bank’s requirements, he mentioned three specific examples this week of laws or regulations that are of concern.
One reduces credit card fee, one reduces the cost of switching credit cards, and the other makes it easier for customers to transfer their data between banks.
The day after his speech, Biden’s administration released another new law opposed by banks: a $5 interest rate on bank loans issued by the CFPB. It quickly led to a lawsuit from lobbyists at the bank.
He hopes there is an opportunity with the new administration to change some of these attitudes.
When it comes to “the challenges of new challenges,” Lake told Yahoo Finance, “we’re looking forward to opportunities for collaboration between businesses and new management.”
Some economists are concerned that Trump’s 2.0 policies will be cost-effective, adding to persistent price pressures.
