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Chief executives of the largest U.S. banks acknowledged Monday the "disconnect" between their expressed support for re-regulating financial markets and the work of their lobbyists to weaken any new rules....   >>>

Chief executives of the largest U.S. banks acknowledged Monday the "disconnect" between their expressed support for re-regulating financial markets and the work of their lobbyists to weaken any new rules.



The executives pledged during a White House meeting with President Barack Obama that they would personally intervene on behalf of the legislation.



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House and Senate aides familiar with the lobbying effort said Jamie Dimon, chairman and chief executive of J.P. Morgan Chase, personally worked against the new consumer-protection regulator. They said his company organized mom-and-pop businesses to contact senators to express concern about proposed strong new controls on derivatives trading.



J.P. Morgan released a statement before the White House meeting, which Mr. Dimon attended. "The details matter, and the stakes are simply too high and the consequences too far-reaching to do this hastily and poorly," the statement said. "While we agree with many of the proposals, we share concerns with others that some regulatory proposals could restrict lending by banks, which will hinder economic growth and job creation.".....