08:32 AM EDT, 09/12/2024 (MT Newswires) -- JPMorgan Chase ( JPM ) and Bank of America ( BAC ) plan to curb and more closely track the working hours of their young bankers in the wake of a Wall Street Journal probe that uncovered a culture of overwork within the industry, the WSJ reported Thursday.

JPMorgan ( JPM ) will now limit junior investment bankers' hours to 80 per week in most instances, the WSJ reported, citing people familiar with the matter. Meanwhile, Bank of America ( BAC ) is putting a new timekeeping tool into effect that makes junior bankers disclose how they spent their time, other people familiar with the matter reportedly told the WSJ.

Neither JPMorgan ( JPM ) nor Bank of America ( BAC ) immediately responded to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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