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JPMorgan to Pay $88.3 Million for violating sanctions
JPMorgan Chase has agreed to pay $88.3 million as part of a settlement with the Treasury Department over a series of transactions involving Cuba, Iran and Sudan, the agency said on Thursday. Treasury officials called the banks actions egregious and said that JPMorgans managers and supervisors acted with knowledge of the conduct constituting the apparent violations and recklessly failed to exercise a minimal degree of caution or care. A spokeswoman for JPMorgan said the company never intended to violate the Treasury Dept. regulations.Posted by: Anguper Hupomosing9418 2011-08-26 |
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