DIMON ADMITS: Breaking The Law 'Is A Problem At JPM'

Following the rules is not easy for Jamie.

Dimon warns more sanctions are coming for JPMorgan.

Jamie Dimon warns that JPMorgan, which is under regulatory orders to tighten internal controls, will face more sanctions in the coming months.  Dimon comments on the London Whale, criminal investigations into activities at the bank, illegal foreclosures, money laundering and the threat of cyber attack.

Here's why Jamie is warning shareholders:

NYT: JPMorgan Faces Multiple Criminal Investigations

Comments

[robertsgt40]

No sht Jamie. We know that. You know that. Holder won't prosecute. Game over...for us.

[Harry Johnson]

You know jamie, some long prison terms could fix that problem quite nicely.

[S. Gompers]

The law is very selectively enforced these days, and only applies to the ignorant masses.

[Howard T. Lewis III]

See 'Rense.com' for embarrassing but difficult to argue against presentations as to how the Zionist Rothschild cabal has taken advantage of the American male hypnotized by rubber tits, Diet Dr. Pepper and Cheetos in front of the CFRtv while the Bush41 cabal and deregulation of the markets allows America to be bled dry through fiduciary vampirism. What once was an open market to combine venture capital and invention and production has been reduced to a vampire's dream of a tapped vein on an ever dwindling mountain of blood money through high velocity trades and derivatives, LIBOR and the rest with out restraint or civility. And don't forget the selling off of U.S. assets and resources for pennies on the dollar. Queen lizard gets a new pair of shoes.

Deputize me and give me the tools and I will save the country.

[john]

Chase Bank, JPMorgan Chase to refund customers $309 million for unfair billing

http://www.mcclatchydc.com/2013/09/19/202697/chase-bank-jpmorgan-chase-to-refund.html#.Uj2K3xafYQI

WASHINGTON — Federal regulators on Thursday ordered Chase Bank and JPMorgan Chase to refund $309 million to more than 2 million customers for illegally billing them for credit-monitoring services they never received.

Chase also must pay $80 million in fines, submit to an independent audit, and strengthen oversight of third-party vendors who manage credit card “add-on” products that promise to protect customers from identity theft and fraud.

The Consumer Financial Protection Bureau took action after an investigation revealed that Chase unfairly charged many customers for the add-on services without or before receiving the customers’ written authorization between October 2005 and June 2012.

Some customers paid monthly fees of between $7.99 and $11.99 for several years even though the add-on services they’d been promised were not performed, according to the bureau.

If the fees caused the customers to exceed their credit limits, they were charged additional fees and interest, the bureau said...