Thursday, September 28, 2023
HomefinancialsMore trouble for JPMorgan, more love from analysts

More trouble for JPMorgan, more love from analysts

The great debate over JPMorgan Chase rages on.

Wall Street analysts boosted the bank Wednesday in the wake of announcements Tuesday that it will pay more than $2 billion to settle investigations related to Bernie Madoff's massive Ponzi scheme.

Authorities at the U.S. Attorney for the Southern District of New York and the Office of the Comptroller of the Currency allege that JPMorgan, as the bank of record for Madoff and his investors, ignored signs of suspicious activity long before the scheme was uncovered in December 2008.

Additional charges saying the bank failed to maintain an adequate anti-money laundering program were among those settled.


Most Popular