US regulators rendered a failing score to five huge banks, including JPMorgan Chase & Co. and Wells Fargo & Co., on their bankruptcy plans that do not depend on the money of taxpayers.
It was the first time the two regulators, the Federal Deposit Insurance Corporation and the Federal Reserve, underpinned how the tag still surrounds the United States and impacts the Wall Street.
American regulators debunked their reasons, saying these institutions failed to defend how they would resolve various problems in the event of a financial crisis.
Banks can modify their bankruptcy plans until October 1. Otherwise, they will be dealing with sanctions.
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