The Biden administration’s plan to forgive student loans is “badly done” and won’t solve problems in student lending, JPMorgan Chase CEO Jamie Dimon told a House panel Wednesday.

“I wish they had targeted the people who actually needed help,” Mr. Dimon said. “They still haven’t fixed the underwriting and they haven’t fixed the cost of college.” …

“We basically put a Band-Aid on, spent a lot of money and didn’t fix the problem,” he said.