JPMorgan is looking to cut back on lending to businesses it sees as posing risks to its reputation amid a period of heightened regulatory scrutiny, the Wall Street Journal reported, citing people close to the situation.
Reuters reports that the bank has launched an internal review of its commercial-lending clients that could result in the elimination of relationships with companies such as pawn shops, payday lenders, check cashers and some car dealerships, the business daily said.
The process could cut hundreds of millions of dollars from the bank's annual revenue, the Journal quoted one of the people as saying.
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