JPM's Dimon: Higher Capital Requirements Are 'Bad for America'

Jamie Dimon is set to testify before lawmakers, discussing the negative impact of stress tests and higher capital requirements on the U.S. economy. Lawmakers are also concerned about rising mortgages and housing costs affecting communities. While JPMorgan is cutting its workforce in the home lending sector, other banks are also reducing hiring, impacting community banks. These discussions highlight the tension between regulatory requirements and community economic health.

What is the significance of the meeting between bank CEOs and lawmakers in Washington?

In what ways do community banks differ from investment banks according to the text?