FRB fines JPM $98.2 million

[pmbug]

The Federal Reserve Board on Thursday issued an enforcement action against JPMorgan Chase & Co. and fined the firm approximately $98.2 million for an inadequate program to monitor firm and client trading activities for market misconduct. The Board's action requires JPMorgan Chase to review and take corrective action to address the firm's inadequate monitoring practices, which occurred between 2014 and 2023.
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Federal Reserve Board issues enforcement action against JPMorgan Chase & Co. and fines the firm approximately $98.2 million for an inadequate program to monitor firm and client trading activities for market misconduct

The Federal Reserve Board on Thursday issued an enforcement action against JPMorgan Chase & Co. and fined the firm approximately $98.2 million for an inade

www.federalreserve.gov

9 years worth of potential market misconduct. I wonder how much JPM reaped from that malfeasance.

 

[Wellsburg]

Happens all the time. The big banks pay huge fines and continue to rig markets, charge illegal fees to their customers, fail to disclose credit swaps, launder money for the cartels, etc. Some of these fines are over a billion dollars.

Ever notice that nobody goes to jail? So, it's just a money game. Citi Bank or JPM or Goldman screw the public out of a billion dollars and pay a fine of $200 million. Pretty good work, if you can get it.

If the government really wanted to stop this shit, the crooked bankers would be sitting in prison.