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JPMorgan Chase is paying $348 million in fines to US regulators for alleged failures to monitor the trading of its clients and employees, one of the largest such penalties paid by any lender so ...
The Volcker Rule, part of the Dodd–Frank Wall Street Reform and Consumer Protection Act, bans high-risk trading inside commercial banking and lending institutions. The Volcker rule is sometimes referred to as "a modern Glass-Steagall firewall that separates core banking system from higher-risk, hedge fund-style proprietary trading". [38]
[11] [12] In 2021 Lake and Jennifer Piepszak were named heads of the consumer and community bank. [13] In 2024 she became sole CEO of this business. [ 14 ] In January 2024, following a re-shuffle at JP Morgan Chase, Lake was tipped in the media as a likely successor to Jamie Dimon as CEO of the global firm.
On the same day the United States Commodity Futures Trading Commission (CFTC) in coordination with the FCA imposed collective fines of $1.4 billion against the same five banks for attempted manipulation of, and for aiding and abetting other banks’ attempts to manipulate, global foreign exchange benchmark rates to benefit the positions of ...
Marianne Lake, who runs JPMorgan's sprawling consumer franchise, offers her thoughts on the state of bank regulation, Trump's return to the White House, and the possibility of a soft landing ...
In its Best Brokers of 2024 ranking, GOBankingRates identified the best brokerage accounts and online trading platforms to help you choose the right web broker for you.
The Consumer Financial Protection Bureau (CFPB) is an independent agency of the United States government responsible for consumer protection in the financial sector.CFPB's jurisdiction includes banks, credit unions, securities firms, payday lenders, mortgage-servicing operations, foreclosure relief services, debt collectors, for-profit colleges, and other financial companies operating in the ...
Connoisseurs of corporate scandal -- and probably every investor who remembers the start of this century -- will immediately think of Enron, the energy market-manipulating giant that went from six ...