Surely they are not related to toxic loans sold to FnF, they are paying these fines because ..... why?
JP Morgan is a role model.....!
These are only some minor errors:
*Energy Scandal: JPMorgan is now under scrutiny for an energy trading business it acquired in the 2008 takeover of Bear Stearns.
*The London Whale: It's already been a year since the news broke that a JPMorgan trader in London made several oversized bets in the credit default swaps markets that went bad to the tune of $6.2 billion.
*Enabling Madoff: While JPMorgan Chase served as Bernie Madoff's primary bank for over two decades, it never noticed anything worth reporting to regulators.
*LIBOR Scandal: JPM is among the many large financial institutions implicated in the LIBOR manipulation scandal, a key interest rate used in derivatives markets.
*Credit Card Scandals: Last year JPMorgan agreed to pay $100 million to credit card customers who said in class-action lawsuit that the bank had increased their minimum payments to generate more fee income.
*JPMorgan Wants to See More Americans on Food Stamps. That because JPMorgan Chase contracts to operate as the processor of the Electronic Benefits Transfer (EBT) cards in those states. JPMorgan earns a fee for each recipient, ranging from 31 cents to $2.30, depending on the state.
*Lawsuit Accuses JPMorgan Of Exposing Social Security Numbers.
*Sounds like a movie...
The big bank was mentioned, though not named, in a lawsuit brought by Paramount Pictures against Content Partners, LLC. This latest salvo is basically in response to Content Partner's 2010 lawsuit, alleging stinginess on Paramount's part when it came to parceling out profits on films like The Truman Show. Now, the studio says that Content Partners conspired with JPMorgan to steal trade secrets.
Go FnF!!
