JPMorgan Faces Regulatory Action Over 'London Whale' - NYTimes.com:
"Federal banking regulators hit JPMorgan Chase with two enforcement actions on Monday for failures in risk management that led to a multibillion-dollar trading loss, the first formal sanctions in a case that damaged the bank’s reputation and brought heightened scrutiny to its trading operations. The regulators also ordered the bank to fix breakdowns in money-laundering controls that threatened to allow tainted money to move through its network.."
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