Daily Archives: August 10, 2013

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Ex-JPMorgan Employees To Be Arrested Over ‘London Whale’ Scandal: Report

Ex-JPMorgan Employees To Be Arrested Over ‘London Whale’ Scandal: Report

Two former JPMorgan Chase employees are expected to be arrested for their role in the so-called “London Whale” scandal that lost the bank roughly $6.2 billion last year, The New York Times reports. The arrest of the employees, Javier Martin-Artajo and Julien Grout, will reportedly take place in London.

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PNC Financial faces foreclosure-related probe

PNC Financial faces foreclosure-related probe

PNC Financial (PNC) has received a subpoena from theU.S. Attorney’s Office for the Southern District of New York, seeking information on foreclosure-related expenses that it incurred on loans insured or guaranteed by the  Federal Housing Administration, Fannie Mae andFreddie Mac.

According to an SEC filing, this inquiry is in its early stages, and PNC is fully cooperating with the investigation.