JPMorgan Halts Latvia Dollar Deals After Probes, Group Says

JPMorgan Chase & Co., which has been told by U.S. regulators to bolster money-laundering safeguards, has stopped clearing dollar transfers for Latvian lenders, according to the Baltic nation’s banking association.

“JPMorgan was a meaningful partner, no doubt,” Martins Bicevskis, president of the Latvian Commercial Banking Association, said in an interview. “But that won’t hinder working further and looking for other partners.”