Today’s Top 4 Financial Stock Stories
JPMorgan Chase & Co. (NYSE:JPM): Closing price $46.14
JPMorgan’s policing of money flows is set to be its next regulatory headache, as United States officials are now expected to order the firm to correct lapses in how it controls suspect movements, according to two inside sources. The bank is caught in a current crackdown by the government in order to force banks to tighten their anti money-laundering systems. However, the action against would likely take the form of a cease-and-desist order, which are used to force to improved compliance policies, and the company will probably not have to pay a monetary penalty, say the sources. The officials involved are the Federal Reserve and the Office of the Comptroller of the Currency.