To that end, a bill attached to the hearing, introduced by Rep. Andy Barr, R-KY, the chair of the Financial Institutions and Monetary Policy Subcommittee, seeks to curtail the amount of time banks ...

The court had ordered seizure of $439.5 million late last month in an ongoing sanctions dispute between JPMorgan and Russia-owned VTB Bank.

The central bank “has made no decisions on timing, process or substance” of the proposal, it said in a statement seen Wednesday by Bloomberg.

The penalty, which the lender said it will pay to a third, unnamed U.S. regulator, adds to the $348.2 million JPMorgan agreed to pay the OCC and the Fed in March.