JPMorgan may admit wrongdoing in 'London whale' trades

Aug 09, 2013, 10:58 AM EDT
A JPMorgan sign is seen outside the office tower housing the financial services firm's Los Angeles, California offices, August 8, 2013.
AFP/Getty Images/ROBYN BECK

JPMorgan Chase is said to be in discussions about settling with U.K. and U.S. regulators an investigation into its $6 billion "London whale" trading losses. Sources say that unusually the bank is considering admitting some wrongdoing in the case instead of the typical practice of paying a penalty without admitting or denying culpability. The bank is resisting, however, accepting any blame beyond that it has already admitted publicly. The discussions are not expected to be finalized for some weeks.

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