Fed forces JPMorgan, Goldman, four rivals to temper payouts

THE SECOND ROUND OF THE Federal Reserve's most-recent stress test has caused only a handful of banks to curtail their capital plans for 2018. / BLOOMBERG NEWS FILE PHOTO/ANDREW HARRER
THE SECOND ROUND OF THE Federal Reserve's most-recent stress test has caused only a handful of banks to curtail their capital plans for 2018. / BLOOMBERG NEWS FILE PHOTO/ANDREW HARRER
NEW YORK – Tougher Federal Reserve stress tests forced six U.S. banks, including JPMorgan Chase & Co., to scale back proposals for doling out more cash to shareholders. Two – Goldman Sachs Group Inc. and Morgan Stanley – agreed to freeze total payouts at previous years’ levels. American Express Co., M&T Bank Corp. and Keycorp…

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