The U.S. Secretly Halted JPMorgan's Growth for Years - Trump admin unlocked the chains

OCC banned expansion into new states for rule infractions
Trump officials reversed Obama-era regulatory enforcement

https://www.bloomberg.com/news/articles/2018-10-26/jpmorgan-s-secret-punishment-u-s-halted-its-growth-for-years

For almost six years, Washington secretly shackled JPMorgan Chase & Co., the nation’s biggest bank.

Now the chains are off, thanks to bank-friendly regulators in the Trump administration.

In actions never before made public, Obama administration regulators prevented the bank from opening branches in new states as punishment for violating banking rules, according to people familiar with the matter. JPMorgan’s ambitious plan to expand nationally, announced earlier this year, was made possible by the Trump administration’s rollback of those restraints, which date from 2012, said the people, who asked not to be identified discussing regulators’ impact on the bank’s plans.

“We are extremely excited to be expanding again, as smart regulatory policy and a competitive corporate tax system help us to deliver on our commitment to invest in our customers and communities,” Chief Executive Officer Jamie Dimon said Oct. 12.