Wash­ing­ton

The Washington Post Sunday - - TAKING STOCK -

The U.S. Con­sumer Fi­nan­cial Pro­tec­tion Bureau said it or­dered JPMor­gan Chase to pay $4.6 mil­lion for al­legedly fail­ing to make sure that it re­ported ac­cu­rate in­for­ma­tion for check­ing-ac­count screen­ing re­ports. The re­ports are used to de­ter­mine who can open a bank ac­count. With­out the legally re­quired pro­cesses to check the data it pro­vided, the bank kept cus­tomers in the dark about why their ap­pli­ca­tions were de­nied, CFPB Di­rec­tor Richard Cor­dray said. The bank did not ad­mit to or deny the agency’s find­ings.

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