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BREAKING! The OCC is expected to issue a cease-and-desist order against JPMorgan!
04-21-2013, 05:02 PM #1
JayRodney ⓐⓛⓘⓔⓝ
Posts:30,289 Threads:1,495 Joined:Feb 2011
Quote:US regulators to fault JP Morgan over Madoff accounts
The Office of the Comptroller of the Currency is expected to issue a cease-and-desist order against bank.

US regulators plan to fault JPMorgan, which served as Bernie Madoff’s main bank for two decades, for failing to conduct adequate due diligence and report suspicious activity, according to sources.
The Office of the Comptroller of the Currency is expected to issue a cease-and-desist order against JPMorgan, which will require the largest US bank to put an end to the alleged failures in its anti-money laundering practices.
The timing of the order is uncertain but could come later this year, the source said. A fine is not expected. If the OCC is not satisfied with JPMorgan’s response, it can take harsher action against the bank, including financial penalties.
Read more: investmentwatchblog.com

Rest assured, as always; nobody will be put in jail or brought down. 15.gif They are above the law, and it stinks.

wonder.gif

04-21-2013, 07:41 PM #2
Catitude Member
Posts:27 Threads:0 Joined:Sep 2012
.

I take that as seriously as TV wrestling.


yup.gif

Harm None, Do As You Please.

04-21-2013, 07:58 PM #3
Octo Mother Superior
Posts:41,550 Threads:1,589 Joined:Feb 2011
chuckle.gif something like that.
JollyRoger Show this Post
04-21-2013, 09:52 PM #4
JollyRoger Incognito
 
(04-21-2013, 05:02 PM)JayRodney Wrote:  
Quote:US regulators to fault JP Morgan over Madoff accounts
The Office of the Comptroller of the Currency is expected to issue a cease-and-desist order against bank.

US regulators plan to fault JPMorgan, which served as Bernie Madoff’s main bank for two decades, for failing to conduct adequate due diligence and report suspicious activity, according to sources.
The Office of the Comptroller of the Currency is expected to issue a cease-and-desist order against JPMorgan, which will require the largest US bank to put an end to the alleged failures in its anti-money laundering practices.
The timing of the order is uncertain but could come later this year, the source said. A fine is not expected. If the OCC is not satisfied with JPMorgan’s response, it can take harsher action against the bank, including financial penalties.
Read more: investmentwatchblog.com

Rest assured, as always; nobody will be put in jail or brought down. 15.gif They are above the law, and it stinks.


Not really above the law. They are seeing evidence of that right now. But they own everyone associated with the Law.
Anonymous Kritter Show this Post
04-23-2013, 05:27 AM #5
Anonymous Kritter Incognito
 
I'll bet nothing happens..



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