Chase CEO Jamie Dimon defends bank's firearm policy

A hearing with top U.S. banks executives on Wednesday meant to examine the stability of the global financial system was partially eclipsed by a debate over varying gun policies instituted -- or not instituted -- by the firms.

JPMorgan ChaseOpens a New Window. CEO Jamie DimonOpens a New Window., for example, defended the bank’sOpens a New Window. lending to firearm manufacturers and retailers amid criticism that the company failed to adopt a responsible loan policy for the industry following the 2018 shooting at Stoneman Douglas High School.

After that tragedy, which left 17 students and staff dead, Citibank and Bank of America instituted new policies that potential firearm clients must meet, including prohibiting the sale of guns to anyone under the age of 21.

At the hearing at the House Financial Services CommitteeOpens a New Window., Rep. Carolyn Maloney pressed Dimon on whether Chase would institute a similar policy given the bank provides “$273 million of loans for manufacturers of military-style firearms.”