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JP Morgan tops legal provisioning rankings
JP Morgan's legal provisions of US$6.8 billion in its accounts has knocked Bank of America off the top slot of US banks with expensive legal problems.
JP Morgan knocks Bank of America off top of legal provisions league table where it has been since 2010 Northfoto
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According to the analysis by Barclays Ressearch, Bank of America has led the league table since 2010 but JP Morgan's six investigations from the US Justice Department have helped put it in top place. The six investigations were disclosed earlier in August. Three of them had not been made public before. JP Morgan is also co-operating with the Securities and Exchange Commission's (SEC's) anti-bribery unit in relation to its recruitment approach in Hong Kong.
Full cooperation
The Wall Street Journal quotes a JP Morgan as saying that the bank is 'fully cooperating with regulators', in relation to the SEC investigation.
