The Wenatchee World

Weather:

Weather

The latest extended forecast from The Weather Channel

Remove this weather forecast

Tonight

Lo52° Mostly Cloudy

Friday

Hi73° Mostly Sunny

Friday Night

Lo46° Partly Cloudy

Saturday

Hi66° Slight Chance Showers

Saturday Night

Lo43° Mostly Cloudy

Sunday

Hi66° Mostly Sunny

Sunday Night

Lo47° Partly Cloudy

Monday

Hi66° Mostly Sunny

Monday Night

Lo44° Partly Cloudy

Tuesday

Hi65° Partly Sunny

JPMorgan admits fault, pays $920 million in trading loss

Send to Kindle
Print This

WASHINGTON — The financial penalty is staggering. JPMorgan Chase & Co. will pay $920 million for trading losses that shook the financial world last year.

But the bigger price may be a few words rarely uttered in settlements with U.S. regulators: The nation’s largest bank is also admitting wrongdoing.

JPMorgan’s acknowledged failure of oversight in the $6 billion trading loss is a first for a major company since the Securities and Exchange Commission reversed its longstanding practice of allowing firms…

View my options or Sign in