Marshall Thompson
J.P. Morgan Chase settled with the U.S. Treasury Department last week to pay $88 million for sanctions violations last week. It’s the largest fee a U.S. bank has ever paid.
According to the Wall Street Journal, the U.S. charged that “between December 2005 and March 2011, J.P. Morgan Chase violated several sanctions orders related to transactions with Cuba, Iran, Sudan and Liberia as well as broader restrictions against supporting terrorism and the proliferation of weapons of mass destruction.”
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