The following article is brought to you by Lance Murray at BizJournals.Com
Concerns over the management of JPMorgan Chase & Co. have led to a downgrade in a confidential government scorecard, the Wall Street Journal reported.
The Journal said that the downgrade was a blow to Chase, the second largest banking operation in the Dallas-Fort Worth area in terms of local deposits.
The downgrade came from the Office of the Comptroller of the Currency, which lowered Chase’s rating one notch in July to a level that means oversight “needs improvement,” the Journal said.
The move came after revelations of the so-called London Whale trading losses that Chase suffered.