Deputy U.S. attorney general finds banks' compliance lacking

James Cole claims recent statements are “simply too little, too late”

JPMorgan Chase has begun to beef up its risk and compliance efforts with an additional $4 billion and 5,000 extra workers assigned to the division. Bank of America has set aside more than $5 billion for legal purposes. Risk and compliance officers are getting hired at their highest rates in years.

But are banks truly doing enough to comply with federal regulation standards? According to the deputy U.S. attorney general, the answer is no.

Assistant Editor

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Zach Warren

Zach Warren is Assistant Editor of InsideCounsel magazine, where he oversees online content submissions and administers InsideCounsel's enewsletters. Zach specializes in new media and multimedia...

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