Mobile Payments, Regulatory Headaches and Slow Growth: Top Quotes of the Week in Banking
5. Regulatory Rethink
We are not limiting our inquiry to the particular transactions at issue. We are assessing the adequacy of risk management throughout the bank.
—Thomas J. Curry, head of the Office of the Comptroller of the Currency, regarding that agency’s inquiry into risk management measures at JPMorgan Chase, after the bank’s infamous $2 billion-plus trading loss last month.
Source: Los Angeles Times