NEW YORK (

TheStreet

) --

JPMorgan Chase

(JPM) - Get Report

could nix plans to build its European headquarters in London if a 50% tax on banker bonus is imposed, reports say.

JPMorgan Chase CEO Jamie Dimon reportedly told U.K. Chancellor of the Exchequer Alistair Darling in a phone call that a 50% tax on banker bonuses would unfairly penalize the U.S. bank.

Reports say the bank was considering dropping its plans to build its European headquarters at Canary Wharf in London because of the tax. The

Financial Times

, quoting a senior JPMorgan executive, reports the bonus tax will be a factor in the decision.

Dimon mentioned JPMorgan's plans to build its headquarters in London's Canary Wharf for 1.5 billion pounds ($2.4 billion) as an example of its commitment to the city. Dimon told Darling that JPMorgan paid British taxes and didn't take a U.K. taxpayer bailout, a source told

Bloomberg

.

JPMorgan spokesman David Wells declined to comment for the

London Telegraph

. A U.K. Treasury spokesman speaking to

Bloomberg

Monday defended the tax as fair because it would apply to all banks.