Consumer banking

JPM Says Guilty Plea Necessary in Forex Case

By Robert Barba May 14, 2015, 6:46 p.m. EDT 1 Min Read

PH

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JPMorgan Chase has to plead guilty to an antitrust charge if it wants to resolve the Justice Department's investigation into its foreign-exchange trading activities, the company said in a regulatory filing Thursday.

Discussions with the Federal Reserve and Justice regarding the investigation are "nearing conclusion," the filing said.

JPMorgan's disclosure follows news reports in recent days that several bank settlements are in the offing. Citigroup, Barclays and Royal Bank of Scotland Group are also expected to enter antitrust-related pleas, and UBS Group AG may agree to a more complicated settlement of multiple matters, Bloomberg reported Wednesday.

Technology editor, American Banker

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