Citigroup, Goldman Sachs and Bank of America are in discussions with regulators to each pay around $200 million in fines.
Social security beneficiaries could get one of the largest cost-of-living raises since 1981 next year if inflation remains hot.
Dimon doubled down on his earlier warning about the possibility of an economic downturn in comments.
BofA fined $225 million by a pair of U.S. banking regulators over what they called a "botched" handling of jobless benefits.