September 23, 2016
JPMorgan Admits It Didn’t Tell Customers About Conflicts
With all the great news lately (sarcasm intentional) regarding Wells Fargo and its’ commission driven illegal creation of client accounts and credit cards, dubious sales practices, and whistle blower retaliation, it is no surprise that Wells is no longer the US largest bank by market capitalization (the stock has dropped – apparently people don’t like to worry that their BANK is forging/creating documents in their name without their consent). JP Morgan has taken the top spot again, prompting me to refocus people’s attention on the fact that JP Morgan ALSO has had its’ ethical challenges. Link to the article is below.
JPMorgan Chase will pay more than $300 million to settle U.S. allegations that it didn’t properly inform clients about reported conflicts of interest in how it managed customers’ money over a half decade.
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