HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Latest Breaking News (Forum) » Exclusive: JP Morgan face...
Introducing Discussionist: A new forum by the creators of DU

Fri Jan 11, 2013, 07:08 AM

Exclusive: JP Morgan faces U.S. order to improve compliance - sources

Source: Yahoo / Reuters

NEW YORK (Reuters) - A U.S. regulatory probe of JP Morgan Chase & Co is expected to result in an order that the bank correct lapses in how it polices suspect money flows, in an action expected as soon as Friday, people familiar with the situation said.

The action would be in the form of a cease-and-desist order, which regulators use to force banks to improve compliance weaknesses, the sources said.

The order is expected to be issued by the Office of the Comptroller of the Currency and the Federal Reserve.

JP Morgan is not expected to pay a monetary penalty, according to one person familiar with the situation.

Read more: http://finance.yahoo.com/news/exclusive-jp-morgan-faces-u-105428035.html

0 replies, 757 views

Reply to this thread

Back to top Alert abuse

Reply to this thread