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Sept. 19, 2013, 11:17 AM EDT / Source: MSNBC TV

By Associated Press

JPMorgan Chase & Co. will pay $920 million and admit wrongdoing in a settlement with U.S. and British regulators over the $6 billion "London Whale" trading loss last year that tarnished its reputation.

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New York—JPMorgan Chase & Co. will pay $920 million and admit wrongdoing in a settlement with U.S. and British regulators over the $6 billion “London Whale” trading loss last year that tarnished its reputation.

The U.K.’s

The

Weak internal controls at the biggest

Two JPMorgan traders face criminal charges of falsifying records to hide the losses.

The stock rose in premarket trading Thursday.

Editorial Standards

Editor's Note

JPMorgan Chase will pay $920 million in ‘London Whale’ settlement

For Subscribers

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FOR SUBSCRIBERSKratom-like substances are popping up in a typically benign supplement

FOR SUBSCRIBERSGOP super PAC increases its spending for Sen. Jon Husted in tough Ohio race

FOR SUBSCRIBERSRecords reveal tumultuous marriage between slain New York Times executive and wife

FOR SUBSCRIBERSFrom clean energy warrior to ‘wall of shame,’ James Talarico reverses on a fossil fuel money pledge

FOR SUBSCRIBERSCongressional staff planned official trip with luxury stops in Italy and France weeks before election

FOR SUBSCRIBERSA harrowing ordeal aboard an Israel-bound plane

FOR SUBSCRIBERSOpenAI CEO Sam Altman to skip congressional hearing on rogue AI agents

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FOR SUBSCRIBERSTrump’s new AI chatbot often links to a site launched under Clinton 26 years ago

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