Jamie Dimon says auto company bankruptcies reveal 'early signs' of excess in corporate lending

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JPMorgan Chase

CEO Jamie Dimon said Tuesday that bankruptcies in the U.S. auto market are a sign that lending standards grew too lax in the past decade-plus.

Dimon, the longtime leader of the largest U.S. bank by assets, was speaking about the recent collapse of auto parts firm First Brands and subprime car lender Tricolor Holdings.

“We’ve had a credit bull market now for the better part of what, since 2010 or 2012? That’s like 14 years,” Dimon told CNBC on a call with reporters.