aml is supposed to run out in 2021. i want to make sure you feel strongly enough about that to support continuation of aml fund. >> behl work with you on that. >> you deserve a right to explain. a lot of my colleagues about recusal. your recusal. i think you've been under recusal, it runs off this august. you might want to explain your thought process on recusal, how it affects your job and things of this sort. what do you think needs to be done there? they've been asking me to ask you, would you continue your recusal since you've had so many of your clients are going to be working directly with this agency? >> i really appreciate that question. and i've had time to think about that question since we visited a little bit earlier in the week. my perspective is that, in the 1990s, the office of government ethics came up with the idea of a one-year period from the day you entered government to when you entered public service to ensure that there was no bias for your dealings on particular matters involving specific parties

deserve credit for putting these rules in place we need to spend more time at critical issues like aml and cyber and privacy and global competitiveness. jp morgan, we invest in our businesses and people and the community we operate the united states we have raised wages and extended benefits for 22,000 we subsidized more than 90% of medical plant costs for employees making less than $60,000 a year 2016, we introduce advancing black leaders and retention and development of the black community within the last two years our company increased the number of senior black executives by 40% or 50% >> at the local level, of 30 cities, we sat down to identify ways to address issues and skills and investments and how to help the people in the community. jp morgan and chase is a $1 $150 million investment generated by myself and a leader of the labor development america is still the most prosperous nation in the world where he blessed of the natural gift of land and all the food and energy that we need. we are the most dynamic economy in the world with vibrant businesses and unparallel innovations

. , and money, in aml laundering compliance, banks have added thousands of employees. on stress tests and other capital regulations, j.p. morgan just added more than 10,000 people. a one side they have cut, but lot of investment in spending money and hiring people because those rules and regulations have begun much tougher, and their implication has become much tougher. job, thedoing a better article is showing. they actually do things proactively instead of reactively like they used to. i think the numbers we were talking about yesterday about overall job cuts in the industry show that certain areas are actually adding in the last few years. vonnie: thank you for joining. check out his most recent story. all of his stories, yalman owner n of-- yalman onara bloomberg news. this is bloomberg. ♪ ♪ vonnie: it is time now for our latest bloombergquint take, where we provide cut -- bloomberg quick take, where we background.ext and jet life is on bailout. more than 80% of its fleet grounded. it has missed payments to banks and leasing companies. the clock is ticking for

we need to spend more time on critical issues like aml, psa, cyber, privacy and global competitiveness. i j.p. morgan we investor businesses, people in the communities in which we operate. the united states we raised wages and benefits for to 16 and a half to $18 an hour. in 2016, we introduced events a black leaders and expanded diversity and retention in the black community in the last few years our company has increased the number of senior black to 40 to 50%. at the local level, more than 30 cities, we set down with diverse groups who identify ways to meaningfully address issues skills investment and how to collectively help the people of communities. j.p. morgan chase is a hundred $50 million investment in detroit and is generated a meeting between myself and leader of the labor movement. this is developed an investment model now known as invented cities to help more people move up the economic ladder in is working. america is still the most prosperous nation in the world. we are blessed with natural gifts of land and all the food, water and energy we need. with the most dynamic c

we take our responsibilities around aml very seriously. >> yes. but has your respective bank conducted any review to identify and assess russian-related accounts? >> we have conducted thorough investigations and can't comment on ongoing investigation. >> so did you identify -- you're saying that as a result of your investigations you did identify, maybe, some suspicious accounts or transactions? >> can't comment on ongoing -- >> can't comment on that. so you have not taken any action as a result of your findings because you can't comment, that right? >> we take it very seriously and we're always -- >> okay, morgue morning what about you? has your respective bank conducted any review to identify and assess russian related accounts? >> we conduct regular reviews consistent with u.s. sanctions. >> very good. did you identify any suspicious accounts or transactions? >> not to my knowledge, chairwoman. >> you have not taken any action is that right? >> that's right. >> thank you very much. mr. corbett you mentioned you downsized somewhat. you eliminate

vote for this resolution and tell the american people when you said on the campaign trail i amle' for pre-existing conditions, you meant it. -- i'm for pre-existing conditions, you meant it. when you said there were other protections wanted to keep in the bill, you went meant it. if do you you would vote for this resolution and send a message. democracy's a lot about messages. about talking to one another. this is wait the congress can talk to the administration. one way. we can can talk in a lot of ways. -- we can can talk in a lot of ways. have the communication being clear, mr. president, leave the affordable care act alone and work with to us make it better and work for all americans. which is what you said would you do during the course of the campaign. i yield back the balance of my time. the speaker pro tempore: the gentleman from new jersey reserves. i would remind members to address their remarks to the chair. the member from oregon now is recognized. mr. walden: can can can i inquire how much time each side has? -- can can i inquire how much time each side has? the speaker p

. >> for city we have between 13 and 14,000 people that spend full time working on bsa kyc, aml and we spend an excess of a billion dollars a year to be compliant. >> our numbers are a little bit higher than that and we file something like 200,000 a year for the federal government. >> it's a much smaller issue for our company given the nature of the business. hundreds of millions. >> it's hard to isolate because it's a part of everybody's job but there are hundreds of thousands of sars filing and the question that we raised is is there value in those? do they provide value? and the question is whether it's giving the value that it should. >> one last question here, you have an opportunity to bring a big company to your neighborhood there, amazon. were either one of you involved in financing that? potentially financing the relocation of the headquaters? >> i'm sorry. >> funding the move there. >> we were not involved with funding. >> do you know economically what kind of impact it's going to have on the city to not have that business locate there? >> i don't know the specific numbers. >