Wednesday, November 19, 2014

Secret Tapes Suggest Regulators At JPMorgan Were Blocked From Doing Their Jobs



This story originally appeared on ProPublica:



As
the Federal Reserve Bank of New York moved to beef up its oversight of
Wall Street two years ago, the team charged with supervising the
nation's largest bank, JPMorgan Chase, was in turmoil.



New York
Fed examiners embedded at JPMorgan complained about being blocked from
doing their jobs. In frustration, some requested transfers. Top New York
Fed managers knew about the problems, according to interviews and
secret recordings of internal meetings obtained by ProPublica. Similar
frustrations had surfaced among examiners at other banks as well.



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Secret Tapes Suggest Regulators At JPMorgan Were Blocked From Doing Their Jobs

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