OCC Hits JPMorgan With $250M Fine Over Fiduciary Biz

Law360 (November 24, 2020, 11:28 AM EST) -- The Office of the Comptroller of the Currency said Tuesday that it has imposed a $250 million fine on JPMorgan Chase Bank, citing deficiencies in the bank's internal controls and audit program for its massive fiduciary business.

JPMorgan Chase Bank on Tuesday was hit with a $250 million fine over alleged deficiencies related to its fiduciary business. (AP Photo/Mark Lennihan) The OCC said JPMorgan Chase Bank NA agreed to pay the fine without admitting or denying the agency's findings. Although the alleged deficiencies existed for several years, the bank has now remediated them, according to the agency's consent order imposing the...

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