JPMorgan GC Blasts Use Of Overlapping Enforcement Actions

Law360, New York (November 22, 2013, 1:20 PM EST) -- Following a series of high-profile, high-dollar settlements with a host of federal and state agencies capped off by a $13 billion mortgage-backed securities deal, JPMorgan Chase & Co.’s top attorney said Thursday that regulators were piling on banks with duplicate enforcement actions.

Stephen Cutler, JPMorgan’s executive vice president and general counsel, said that banks were being swamped by multiple enforcement actions from regulators bringing similar claims for violations of similar laws.

Such a practice is not a good use of government resources and makes it difficult...
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