JPMorgan CEO says wants regulation bill this year

"PALO ALTO, California, March 12 (Reuters) - JPMorgan Chase & Co (JPM.N) Chief Executive Jamie Dimon said on Friday that U.S. banks agree with 70 to 80 percent of proposed financial regulatory reform and he hopes a bill passes this year.

"Dimon, sounding a conciliatory note as Democrats move to sculpt legislation after efforts at a bipartisan compromise collapsed, also insisted that he and other banks support consumer protection although they oppose a standalone agency.

"Banks recognize, almost all of them, that the regulatory system failed and that we need to simplify it and strengthen it," he told an audience at Stanford University. "We agree with most of the proposals out there, I'd say 70 or 80 percent."

"But he insisted that the industry's views should be taken into account in crafting the legislation as well.

"We may be right about the other 30 percent and we are entitled to be part of the conversation," he said."

Nickle here: We've all heard of the term "entitlements" and now we hear that a bank's version of entitlements is helping to write the legislation that regulates and polices it.