The Traderszone Network

Published in TZ Latest News 6 May, 2014 by The TZ Newswire Staff

JPMorgan closing accounts of foreign diplomats in U.S.: FT

The ban by the largest U.S. bank by assets, which affects 3,500 accounts, has prompted former Colombia finance minister Jose Antonio Ocampo to accuse it of discrimination in a complaint to the consumer regulator, the report said. According to the FT article, JPMorgan said it was closing the Chase accounts and stopping the credit cards of the officials because of increased compliance costs. Ocampo, an economist who was also nominated to become World Bank president, has written to the U.S.

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