4 ms·

I think the layperson wants the fine to be big enough that it disincentivizes the bad behavior that resulted in the fine and behavior like it. JP Morgan recorde

by dwater 5y ago

I think the layperson wants the fine to be big enough that it disincentivizes the bad behavior that resulted in the fine and behavior like it. JP Morgan recorded $12.1 Billion profit in 2020, so a fine of $125 Million is about 1% of their annual profit. I doubt Jamie Dimon is sweating too much about that.

goopthink 5y ago
For the record here, in addition to the fines, there is an additional unreported price of legal costs to fight this and compliance costs to fulfill obligations as per settlement. It's not quite an iceberg costs, but I guarantee they hired expensive lawyers to fight this beyond usual retainers.