09/15/2012 10:12 am ET

Money Laundering Probe Sets Sights On JPMorgan Chase, Bank Of America: Report

Federal and state authorities are investigating a handful of major American banks for failing to monitor cash transactions in and out of their branches, a lapse that may have enabled drug dealers and terrorists to launder tainted money, according to officials who spoke on the condition of anonymity.

Read more on The New York Times