JPMorgan director says mistakes embarrassing for the board

Beached Whale

The head of JPMorgan's audit committee acknowledged on Thursday that the bank had made mistakes and said it has tried to learn from them.

Reuters reports that Laban Jackson, the head of the audit committee of JPMorgan's board of directors, said: 'We've got these things that we actually are guilty of and we've got to fix them'.

'It's embarrassing for the board', he added. Jackson spoke at a conference at a downtown Chicago hotel on Thursday.

The remarks could underscore the bank's eagerness to resolve the raft of regulatory investigations it now faces. Earlier on Thursday, JPMorgan Chief Executive Jamie Dimon met with U.S. Attorney General Eric Holder in Washington to discuss a settlement to end investigations into its sales of shoddy mortgage securities leading up to the financial crisis.

To access the complete Reuters article hit the link below

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