| JPMorgan has been feeling the pressure regarding its commodities business from U.S. lawmakers, and on Friday the company announced it would be downsizing this aspect of its operations. The Wall Street Journal reports that JPMorgan is putting up warehouses and other physical properties for sale, though it is unclear whether the motivation is declining revenues or heightened regulation.
On the regulation front, JPMorgan had another opportunity to hear from Washington lawmakers earlier this week. Senator Sherrod Brown (D-Ohio) held hearings on the issue of precious metal storage, power plant ownership, and other key components of the biggest banks’ commodities business on Tuesday...............................................Full Article: Source
|