News Summary: Two JPMorgan directors step down

News Summary: JPMorgan says David Cote and Ellen Futter retire from its board of directors

Associated Press

STEPPING DOWN: JPMorgan Chase & Co. said David Cote and Ellen Futter have retired from its board of directors. They both served on the bank's risk policy committee at the time of its $6 billion "London whale" trading loss.

DIMINISHED SUPPORT: In May Cote and Futter were elected to new terms on the board, but they were criticized by activist investors. Cote, Fuller, and risk policy committee member James Crown each received less than 60 percent approval from company shareholders. Eight other directors received 90-percent support.

UP NEXT: The nation's largest bank said it will name replacements later in 2013.

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