JPMorgan Chase Faces Heavy Penalty and Regulatory Action for Banking Misconduct
Sunday, 17 March 2024, 17:54
JPMorgan Chase Penalties and Regulatory Action
The Federal Reserve and the OCC have imposed a hefty $348.20 million fine on JPMorgan Chase for violations of banking regulations. The enforcement action includes a cease-and-desist order to rectify the identified misconduct.
Key Takeaways:
- JPMorgan Chase fined $348.20 million for 'unsafe or unsound' banking practices
- Regulatory action by Federal Reserve and OCC to address misconduct
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.