Posts Tagged "Chase Bank"

JPMorgan Chase Brokers Favoring Bank’s Own Funds

Posted by on Jul 8, 2012 in News, Securities Arbitration | 0 comments

The NY Times published a report this week that suggest that JPMorgan Chase used its brokers to sell its own financial products even though there were better performing or cheaper options available to their customers.  In the case of at least one offering, the bank exaggerated the returns of what it was selling in its marketing material. Apparently, the bank encouraged these types of investments to improve its own financial situation at the expense of its customers.  By encouraging investments in its own funds and products, the bank secured a stable source of funds which contributed fees to...

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