Republican Rep. Dave Camp's plan to raise taxes on financial institutions with more than $500 billion in assets is a bad idea because it will negatively impact lending ability, says Gov. Frank Keating, CEO of the American Bankers Association. Banks are also unfairly footing the bill for losses related to credit card breaches at retailers like Target, says Keating. Finally, Keating says JPMorgan CEO Jamie Dimon should be paid accordingly if his bank outperforms, despite recent criticism.

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.

If you liked this article you might like

Fed, Toys 'R' Us, Equifax and Hurricane Maria - 5 Things You Must Know

Toys 'R' Us Debt Load Tips It Into Chapter 11

Time to Play Equifax?

Time to Play Equifax?

Macy's, Target, Others Will Have Brutal Time Hiring 248,000 Santa's Helpers