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The Boston Globe

Business

JPMorgan facing $700m in fines over losses

NEW YORK — Global authorities are preparing to levy more than $700 million in fines against JPMorgan Chase over the bank’s huge trading loss in London last year — a rebuke that comes as the nation’s largest bank is confronting an onslaught of legal woes.

The bank’s board is meeting Monday and Tuesday to approve the fines, which could be announced as soon as this week, according to people briefed on the matter. The people, who were not authorized to speak publicly about the private negotiations, cautioned that the contours of the pact could still change.

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