In late October, one financial institution was on the path towards racking up nearly $14 billion in penalties. And it's not alone.
The head of the Federal Reserve Bank of New York said Thursday that some of America’s largest financial institutions appear to lack respect for the law, a potentially explosive charge against an industry already roiling from numerous government investigations into alleged wrongdoing.
JPMorgan Chase & Co has been talking with New York City Police Commissioner Ray Kelly about hiring him for a senior role in security at the bank, a person familiar with the matter said on Wednesday.
Every day in neighborhoods across the country, low-paid workers with little oversight or training decide whether to break into someone else's home.
The head of JPMorgan Chase & Co's audit committee acknowledged on Thursday that the bank had made mistakes and said it has tried to learn from them.
In the years since the financial crisis, we may not have solved too big to fail, sent any bankers to jail, or done much to prevent another financial crisis, and we certainly haven't changed Wall Street's devotion to money-making at all costs.
On March 11, 2008 Christopher Cox, former chairman of the Securities and Exchange Commission, said he was comfortable with the amount of capital that Bear Stearns and the other publicly traded Wall Street investment banks had on hand.
Andy Pollock rode the last subprime mortgage wave to the top then got out as the industry collapsed and took the U.S. economy with it. Today, he’s back in business.
In the post-crisis tribulations, after being very close to the administration, JP Morgan started campaigning against some aspects of the new financial regulation. Its favorite target was the Volcker rule that restricts the type of investments banks can trade for their own account.