U.S. regulators fail 'living wills' at 5 of 8 big banks

By Lisa Lambert WASHINGTON (Reuters) - U.S. regulators failed five big banks on Wednesday, including JP Morgan and Wells Fargo, on their plans for a bankruptcy that would not rely on taxpayer money, giving them until Oct. 1 to make amends or risk sanctions. Nearly a decade after the financial crisis, it underscored how the debate about banks being “too big to fail” continues to rage in Washington and exasperate on Wall Street. Wednesday's announcement was the first time the two major