Closed loop fault

Agree with Tyler all the way, it's that jumper wire that's the problem.

wrote:

Could I confirm this possibly by comparing both bank 1 & 2 rear O2 output voltages on my scanner or will the bias Chrysler uses not make that possible?
 

There's no harm in trying! But the bias voltage won't translate to the Global OBD data correctly. You may or may not see the issue on the scan data.

I think you're better off making voltage measurements with a DVOM to confirm the issue.

That won't work as B2S2 signal wire has been cut and wired into B1S2 signal wire. You'll just get B1S2's readings. That's the do around for that bad cat. That jumper has an open so now the PCM is seeing a steady 5v on the B2S2 signal wire.

On live data, both rear O2s report an identical, steady voltage at idle. If jumper had an open, I wouldn't expect to be seeing that somehow. I'll try to throw a volt meter on both sides and see if it differs any. 

Just an update here. I rechecked live data for bank 1 and 2 rear O2s at idle. Noticed a flickering in the voltage level on bank 2 . Voltage was indeed going high at times (reached about 1.2) while bank 1 always stayed steady (I think it was ~0.70).

Decided for funzies to swap upstream O2s to see if that CL-fault would move and it didn't. Took a look at the jumper wire (like u guys suggested ages ago) and removed corroded-looking solderless wire tap used on B1S2. The tapped wire was chewed to hell after doing that, of course, but managed to solder the jumper wire to it and volts then stayed steady on scanner. I actually kissed the darn thing when the pending DTC didn't set when it otherwise used to. 

Inspection is tomorrow. Wish me luck and a big thanks to all of you!

Niiiiice. Did you get all but the cat monitor to set?

Actually the cat monitor did set/complete. Just the EVAP wasn't ready (probably cause the gas tank was full). NY allows one incomplete considering the age of the vehicle, so I didn't have to wait for that one to finish.