Dimon Defends JPMorgan’s Minimum Wage, Pointing to Low Pay Elsewhere

The chief executive officer of JPMorgan Chase & Co., the largest U.S. bank, pushed back on questions in a call with journalists, asking reporters from the New York Times and CNBC how much their publications pay entry-level workers and saying the banking industry likely pays more than the U.S. government. Representative Katie Porter, a first-term Democrat from California, asked Dimon at a hearing on Wednesday about a minimum-wage employee at JPMorgan who couldn’t cover her monthly expenses. Minimum wages at major companies have been under the spotlight, as Jeff Bezos this week called on retailers to match or beat Amazon.com Inc.’s pledge to boost pay to at least $15 an hour.