As many as four of the eight largest U.S. banks are expected to fail their living will test, including J.P. Morgan Chase & Co., The Wall Street Journal reported. The news comes as a Government Accountability Office report claims regulator secrecy in evaluating the living wills “could undermine public and market confidence.”
UPDATE from Bloomberg
JPMorgan Chase & Co., Bank of America Corp. and three other major U.S. banks failed to persuade regulators they could go bankrupt without disrupting the financial system and could now face a tighter leash from Washington after government agencies used one of the most significant post-crisis powers bestowed under the Dodd-Frank Act. The banks -- also including Wells Fargo & Co., Bank of...
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