JPMorgan Said Near Settlement on Credit-Card Collections
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JPMorgan Chase & Co. may settle regulators’ probes into the bank’s credit-card debt collection practices and sales of identity-theft products as early as next week, according to two people with knowledge of the matter.
The Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau plan to fine the bank less than $80 million for both matters, said the people, who asked not to be identified because the discussions are private. JPMorgan, the largest U.S. lender by assets, is also near an agreement with U.S. and U.K. regulators who have been investigating its $6.2 billion trading loss last year, one of the people said.