JPMorgan Settles Current London Whale Charges With $100 Million and 2 Other Dow Movers to Watch
JPMorgan Chase & Co. (NYSE:JPM): Current price $53.70
The Commodity Futures Trading Commission said Wednesday that the big bank will pay $100 million and concede that its traders behaved recklessly to settle one more set of United States charges concerning its “London Whale” trade. In September, the bank paid $920 million to four other American and United Kingdom regulators to settle civil inquiries of the bank’s $6.2 billion in derivative losses involving its chief investment office. The new CFTC case charged JPMorgan with breaching a prohibition on manipulative conduct when it traded in the credit default swaps in question.