U.S. and European regulators fined banks record amounts this year, imposing penalties and settlements of more than $43 billion as authorities work more closely across borders to clean up the financial sector. Banks in the United States and Europe are paying for misconduct that includes mis-selling U.S. mortgage bonds, rigging […]
Tag: London Whale
JPMorgan hit with new investor lawsuit over “Whale” losses
A Missouri pension fund has sued JPMorgan Chase & Co (JPM.N) executives and board members over $6.2 billion in trading losses that were revealed last year, citing a recent U.S. Senate report that criticized the bank’s management for failing to catch the bad trades. The Police Retirement System of St. […]
Ex-JPMorgan exec Drew declines to be harpooned by “whale” losses
Ina Drew, the former JPMorgan Chase & Co (JPM.N) executive who earned millions while in charge of the unit that made the disastrous “London whale” trades, on Friday refused to accept responsibility for the $6.2 billion in losses revealed last year. Testifying before a Senate panel, the former chief investment […]
