Jamie Dimon Calls JPMorgan’s Frank Acquisition a ‘Huge Mistake’

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon called the firm’s botched acquisition of college financial-planning website Frank “a huge mistake” and vowed to share takeaways at a later date.

“I’ll tell you the lessons learned here when this thing is out of litigation,” Dimon said Friday on a conference call to discuss fourth-quarter earnings.

LISTEN: JPMorgan CEO Jamie Dimon speaks on company second-quarter earnings call.

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JPMorgan is suing the founder of Frank, which it bought for $175 million in 2021, for allegedly concocting millions of fake customers. A lawyer for the founder, Charlie Javice, has disputed the allegations. The debacle threatens to renew concerns about spending at ...