JPMorgan Pulls Back Foreign Bank Deals On Regulator Trouble

JPMorgan Chase & Co (NYSE:JPM) has announced that it is to pull back on dealings with foreign banks in order to reduce risk at the investment house. The Wall Street Journal reported the news earlier on Friday. The piece on the decision was based on a JPMorgan internal memo about the risk reducing rules. The internal memo said that JPMorgan Chase & Co (NYSE:JPM) would reexamine the relationship it had with thousands of foreign banks that it clears payments for. The investment bank also helps those banks process many other kinds of payments. The investment bank is also planning to reallocate…