J.P. Morgan (JPM) to Suspend Daily Buyback Program, Unrelated to Recent Losses - Dimon

May 21, 2012 9:43 AM EDT
J.P. Morgan (NYSE: JPM) shares are slumping as CEO Jamie Dimon is speaking at a Deutsche Bank conference Monday morning.

Dimon said the bank is suspending its daily stock buyback program, but retaining its dividend. He said suspension of the buyback plan isn't related to losses recently disclosed; Dimon instead pointed at "commitment to regulators."

Shares are off about 1.6 percent in early trading.

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