U.S. Markets closed

Jamie Dimon backs path to citizenship for immigrant 'Dreamers'

Calder McHugh
Associate Editor

JPMorgan Chase (JPM) CEO Jamie Dimon told Yahoo Finance this week that he supports a path to citizenship for law-abiding, undocumented immigrants.

Deferred Action for Childhood Arrivals (DACA), is a controversial program implemented by former President Barack Obama that allowed children who were brought to the United States to apply for permits to stay in the country and work legally.

President Donald Trump has attempted to end DACA, but the move has been restrained by the courts and resistance in Congress.

Dimon, who has worked with Trump on various issues and backed him on tax reform, said that he can also criticize Trump when necessary.

“We can tell him exactly what we want about immigration,” Dimon told Yahoo Finance Editor-in-Chief Andy Serwer, in an interview that aired on Yahoo Finance in an episode of “Influencers with Andy Serwer,” a weekly series with leaders in business, politics, and entertainment.

Business leaders “want a path to citizenship for law-abiding, undocumented [immigrants]. We want DACA to stay… You know, kids from overseas get educated here and have to leave.”

The Trump administration attempted to fast-track an appeal, but was denied in June. Just days ago, the Supreme Court said it would hear a bid to end DACA on next year’s docket, scheduling the charged case to be decided in the heat of the 2020 election cycle.

Dimon, however, believes immigration reform can bolster the economy.

“If we do these policies right, America will be growing a lot faster,” Dimon said.

Calder McHugh is an Associate Editor at Yahoo Finance. Follow him on Twitter: @Calder_McHugh.

The jobs report is even worse than it looks in these six sectors

These US industries could take the heaviest hit from new tariffs

There's a gap between jobs and job-seekers, and a housing crisis is making it worse

Streaming boom becomes 'holy grail' for resurgent music industry

Trump's tariffs hit Texas manufacturers, spark fears for the future: Survey

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, SmartNews, LinkedIn, YouTube, and reddit.