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JPMorgan Chase & Co. has agreed to pay a $100 million penalty and admitted that its traders acted "recklessly" during a series of London trades that ultimately cost the bank $6 billion.
PMorgan Chase & Co. has agreed to pay a $100 million penalty and has admitted that its traders acted "recklessly" during a series of London trades that ultimately cost the bank $6 billion.
JPMorgan Chase, the country's largest bank, will pay almost $1 billion in fines and admit that it failed to rein-in loose trading practices that led to a $6 billion loss last year, U.S. and U.K. regulators said Thursday.
The executive responsible for trading strategy at JPMorgan Chase, one of the highest-ranking women in Wall Street, on Monday became the first casualty of the bank's stunning $2 billion loss.
JPMorgan Chase is expected to accept the resignation of one of the highest-ranking women on Wall Street after the bank lost $2 billion in a trading blunder, a person familiar with the matter said Sunday.