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JPMorgan Mea Culpa Puts Pacifier-Making Moms Back in Business

  • Bank to unlock accounts after North Korea ‘misunderstanding’
  • Episode reveals small firms’ vulnerabilities in global era
A pedestrian walks past JPMorgan Chase & Co. headquarters in New York.
A pedestrian walks past JPMorgan Chase & Co. headquarters in New York.

The North Korea scare has been averted, at least for two entrepreneurial moms who sell upmarket baby pacifiers.

The co-founders of Doddle & Co., Nicki Radzely and Janna Badger, spent the past two weeks edging toward a financial cliff. Their business account at JPMorgan Chase & Co. had been frozen, and they didn’t know why. With their workers and suppliers unpaid, and hoping to learn what had happened, the women delved into a murky world of international sanctions law and global bank compliance.