Home \ Keywords \ Office of the Comptroller of the Currency

You are here

Office of the Comptroller of the Currency

Regulators Cut J.P. Morgan Community-Lending Grade

"Regulators twice in the past six months disclosed downgrades of J.P. Morgan Chase & Co.'s community-lending practices, a rare occurrence for any large U.S. bank.

The Office of the Comptroller of the Currency lowered J.P. Morgan Chase's primary deposit-taking bank and credit-card-lending unit to "satisfactory" from "outstanding" after examining their performance under a law designed to encourage banks to lend to low- and moderate-income neighborhoods. Regulators examine banks' compliance with this law, called the Community Reinvestment Act, every few years.

Pages