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Poor J.P. Morgan...when it rains, it pours.
Seems JP was ripping off credit card customers.
Seems they now have to
pay more than $300 million to customers
This is on TOP of....
the same day the bank agreed to pay $920 million in penalties to resolve the biggest civil probes of its "London Whale" derivatives trading losses.
Bear in mind the SEC can only assess civilian charges, not criminal charges, altho it can, but rarely does, then refer its findings to Justice Dept for criminal prosecution, AKA "a cold day in hell" event.
Full story here:
http://www.reuters.com/article/2013/09/19/jpmorgan-whale-debtcollection-idUSL2N0HF0X620130919
Wonder how many sharks are shorting this bank????