JPMorgan admits fault, pays $920M in trading loss

Associated Press
JPMorgan admits fault, pays $920M in trading loss

FILE - In this May 11, 2012 file photo, people stand in the lobby of JPMorgan Chase headquarters in New York. Regulators in the U.S. and U.K said Thursday, Sept. 19. 2013 that the largest U.S. bank's weak oversight of its London operation allowed traders there to assign inflated values to transactions and cover up huge losses as they ballooned. JPMorgan Chase & Co. will pay $920 million and has admitted that it failed to watch over trading that led to a $6 billion loss and renewed worries about serious risk-taking by major banks. (AP Photo/Mark Lennihan, File)

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