J.P.Morgan, Citi shareholders to vote on potential breakup plans: WSJ

Justice League

Now that’s a start…

(Reuters) – Shareholders of J.P.Morgan Chase & Co (>> JPMorgan Chase & Co.) and Citigroup Inc (>> Citigroup Inc) will get to vote on whether the two banks should break up into smaller pieces, the Wall Street Journal reported, citing people familiar with the matter.

The question will be included in their proxy filings, and voted on at a shareholder meeting later this year, the Journal reported.

The vote was requested by Bartlett Naylor, a shareholder in both Citigroup and J.P. Morgan, according to the Journal.

J.P.Morgan declined to comment, while Citi was not immediately available for comment.

The breakup of large banks into smaller ones has been an ongoing issue in the U.S. campaign trail.

Read on.

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