JPMorgan Chase Dropped A Notch In Government Rating

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.

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