Posted on 12/03/2020 3:14:01 PM PST by CheshireTheCat
The Office of the Comptroller of the Currency (OCC) today assessed a $250 million civil money penalty against JPMorgan Chase Bank, N.A.
The OCC took this action based on the bank’s failure to maintain adequate internal controls and internal audit over its fiduciary business.
The OCC found the bank’s risk management practices were deficient and it lacked a sufficient framework to avoid conflicts of interest. These deficiencies constituted unsafe or unsound practices and resulted in a violation of 12 CFR 9.9, which requires a suitable audit over all significant fiduciary activities. The bank has remediated the deficiencies that led to this action.
The OCC penalty will be paid to the U.S. Treasury.
JPM and Goldman are Deep State banks. If Trump pulls this off, those two get shut down.
$250M is peanuts to these banks.
$250M is peanuts to these banks.
True, and it may wind up being less than what they made in illicit gains.
But, I have a hunch that there is a brewing case globally about money laundering that is about to be sprung. This is a good sign of early action.
That would be awesome!
That would be awesome!
If it’s their cash, it hurts them but it’s not their cash. It’s carried from a Fed liquidity facility renewed monthly; kiting it month to month without limit and not on the books.
If these banks had real skin in the game they would have closed down years ago.
The Fed is the real problem.
All their large member banks make a consortium known as the Central Bankers.
The Fed is both public and private. I’ve posted the link before from the St. Louis Fed that confirms this.
The public side of the Fed is small, the private side made up of the large national/international bank members is large. The private side control the public side. Many of the central banks of other countries are actually Fed central bankers.
Yes, IMF and HSBC are implicated in the Dominion scandal.
HSBC was involved in laundering trillions via the SEC during the mortgage meltdown of more than 10 years ago. The SEC was used to register and/or pass bogus securities taken from tax exempt vehicles. Very sophisticated crime but they made big mistakes, why they want Trump out. The Obama era SEC Director had stepped down knowing that Trump investigators were coming for him.
Yes, trillions with a T. Not one trillion, not two trillion, if I told you how many trillions you would not believe it. I didn’t believe it myself until I saw the REMIC residuals and the derivatives keyed off them.
The REMICs are tax exempt and they were breached. The breach resulted in massive tax evasion. There’s a dollar for dollar IRS penalty for such breaches. That’s untold (I refuse to say how many) trillions that are owed to Treasury by IMF, China, others but mostly China, a lot through HSBC.
When the President says China ripped us, he usually says hundreds of billions. No, he knows the real amount and if he let it out, it would mean WWIII.
“The Fed is the real problem.”
Who is listening? How bout’ them Broncos?
Total agree. They are not playing with any money they personally lose.
These monsters need to be broken up. JPMChase,Citi, Wells Fargo etc. They’re out of control.
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