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September 7, 2012

JPMorgan faces fresh probe

“JPMorgan Chase is facing a new probe from the US Senate into the trading losses at its chief

investment office, which have cost the bank $5.8bn and shaken its reputation for risk
management.
 
People familiar with the work by the powerful Senate permanent subcommittee on
investigations said subpoenas for documents and requests for interviews had been sent to
regulators, as investigators query whether officials at the Office of the Comptroller of the
Currency, the Federal Reserve, the Federal Reserve Bank of New York and the Federal Deposit
Insurance Corp provided proper oversight of the bank’s activities.”
 
Read Shahien Nasiripour and Tom Braithwaite’s full article here
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