Awkward Position

Those poor regulators, maybe finding some reasons to do their jobs. So awkward.

The mortgage errors, while by themselves relatively minor, have heightened concerns within JPMorgan because they come on top of the other investigations. The increased scrutiny presents a challenge for the bank and its influential chief executive, Jamie Dimon, who was widely praised for steering JPMorgan through the 2008 financial crisis, leaving it in far better shape than its rivals. Among some executives at the bank, the worry is that the unwanted attention will undercut Mr. Dimon’s authority in Washington.

“Jamie and other executives feel terrible that the bank’s self-inflicted mistakes have put regulators in an awkward position,” Mr. Evangelisti said. He added, “We are wholly to blame for our errors and are fully cooperating with all authorities to make things right.”

Mr. Dimon has already testified before Congress and apologized for the trading losses. In response to last year’s trading blowup, the bank has also worked to root out the problems, shuffled its top executives, bolstered its risk controls and brought in a new head of compliance.