According to the New York Times, the bank’s rivals appear on firmer footing this time, in contrast with the widespread panic after the failures of Silicon Valley Bank and Signature Bank in March. Questions: Source: Cowley, S. (2023). In An Unsteady Banking Industry, First Republic’s Problems Stood Out. The New York Times, May 1 (Retrievable… Read more »
Posts Tagged: JP Morgan Chase
JP Morgan Duped
According to Compliance Week, JPMorgan Chase Bank was fooled into wildly overpaying for a student loan assistance company after the bank dropped its guard on how carefully to vet the startup’s customer database. Questions: Source: Nicodemus, A. (2023). Alleged fraudster cited privacy in duping JPMorgan into $175M merger. Compliance Week, April 5 (Retrievable online at… Read more »
When Will They Ever Learn?
Bank of America (BoA) is in the news again. This time, Bank of America must pay a $30 million fine after a financial regulator found numerous violations related to the accounts of 73,000 military service members. Questions: 1. What actions did the bank take against military service members that were illegal? 2. What steps did… Read more »