JPMorgan Admits Wrongdoing, Fined $100 Million
(NEW YORK) -- JPMorgan Chase has agreed to pay a $100 million penalty to settle claims of reckless conduct brought by the Commodity Futures Trading Commission.
The bank has also agreed to admit it did something wrong before it suffered a $6 billion trading loss that originated in its London office. The bank admits now that traders there "acted recklessly."
Prior settlements focused on oversight and controls. Two former London-based employees are facing criminal charges.
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