Replies to post #469302 on Tornado Alley (PROG)

[hookrider]

janice shell: Great read. Thanks for posting

[Zorax]

I guess we'll just take JPM at a grain of salt. Not that other big banks are any different....
Sadly, the penalties are ludicrously infinitesimal compared to the crimes. Like fining you 1 penny for stealing 10K dollars.

https://lawyerinc.com/biggest-jpmorgan-chase-lawsuits-of-all-time/

Final thoughts

JPMorgan Chase Bank is one of the leading financial institutions. They provide countless home mortgage loans and investment opportunities. The company has a long history of making decisions that serve the best interests of the financial holdings of JPMC.

While this is a sound business practice, it’s only acceptable when other parties do not get hurt unjustly. Federal and state regulations and laws exist to protect all parties engaged in financial transactions. When those rules get violated people suffer damage, and it’s not generally the larger banks and financial institutions. Not all JPMorgan Chase Bank executives make shady deals or act illegally or in violation of established regulations, but some of them do.