JP Morgan is the biggest bank in the US by assets, and has just announced its Q4 and full year results. The size of its legal costs was even higher than expected by analysts. It related to settlements with state and federal regulators and to other legal costs. In Q4, its revenues fell down by 7%, largely because of the legal costs and a fall in trading revenue.
Regulators
CEO Jamie Dimon said that the bank is dealing with 'five to six regulators' for each aspect of its legal issues. Source: KDH News
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