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Released: March 27, 2013
JPMorgan Chase faces federal investigations
Source: Jessica Silver-Greenberg & Ben Protess, N.Y.Times (Free Registration)
As the nation’s strongest bank, JPMorgan Chase used to be known for carrying special sway with regulators. Now it increasingly finds itself in the cross hairs of federal authorities.
A recent misstep points to the growing friction between JPMorgan and regulators as well as to the concerns within the bank. JPMorgan misstated how the bank may have harmed more than 5,000 homeowners in foreclosure, according to several people briefed on the matter. The bank’s primary regulator, the Office of the Comptroller of the Currency, is expected to collect a cash payment from the bank to remedy the flawed review of loans, these people say.
Read Full Article: JPMorgan Chase faces federal investigations
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