Despite the (I think misleading) title of the article, these were reasonable penalties imposed by the government. In previous posts I have argued that there are red flags due to relaxing of banking regulations; and given that banks get fined, but the bankers who cause the fines are not punished, and the profits are worth it, that banks could well simply be budgeting for fines i.e. essentially giving the average tax payer the middle finger. One figure stood out in the article below - penalties "and legal costs and related obligations" of 30 billion USD in 10 years!!! NO numbers on the number of people jailed or penalised!
Disclosure: I worked for JPMC for some 11 years and was laid off by them.
https://www.bloomberg.com/news/articles/2018-10-26/jpmorgan-s-secret-punishment-u-s-halted-its-growth-for-years?fbclid=IwAR1_WLbUZa17iz9WCMs3NioiF4rVhaNyPuRSsp_AoFsL6JT-zD3m4-riN54
Disclosure: I worked for JPMC for some 11 years and was laid off by them.
https://www.bloomberg.com/news/articles/2018-10-26/jpmorgan-s-secret-punishment-u-s-halted-its-growth-for-years?fbclid=IwAR1_WLbUZa17iz9WCMs3NioiF4rVhaNyPuRSsp_AoFsL6JT-zD3m4-riN54
