JPMorgan (JPM), Others Living Will Plan Chided by Regulators

U.S. banking regulators have detected flaws in strategies that JPMorgan Chase (JPM) , Citigroup (C) , Bank of America (BAC) and Goldman Sachs (GS) submitted. These outline the companies’ plans for winding down in the event of a catastrophic event.The Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) stated that they had observed shortcomings in the ‘living wills’ of these four lenders. Per agencies, a shortcoming is a weakness that raises doubts about the plan's feasibility.The Dodd-Frank ...