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JPMorgan Chase to pay ~$264 Million in Settlement
Bloomberg reports [bloomberg.com] that a settlement has been reached after the U.S. Department of Justice investigated indications that
[...] JPMorgan employees at the bank’s Hong Kong subsidiary sought to maximize profits by providing jobs and internships to children of individuals it hoped to do business with.
The settlement provides that the bank will pay around $264 million, and that the investigation will be ended with no prosecution.
"[A]t least five other" undisclosed banks are under investigation for possible violations of the Foreign Corrupt Practices Act. [wikipedia.org]
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