Fed ends scrutiny of JPMorgan Chase tied to 'London Whale' incident
The Federal Reserve announced Thursday that it is ending its enforcement action against JPMorgan Chase tied to the losses suffered by the bank during the so-called London Whale incident. The Fed had required the bank to improve its risk-management program and internal audit functions but now says there's evidence of "substantial improvements by the firm." The bank in 2012 suffered large trading losses at its London-based chief investment office over credit-default swaps.
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