(Bloomberg) — Giant banks have racked up more than $4 billion in U.S. penalties in a wave of settlements weeks before the presidential election. That says a lot about an industry that once vowed to behave after the 2008 financial crisis — and about the regulatory risks it sees ahead.Goldman Sachs Group Inc. recently incurred a record punishment for foreign bribery under a roughly $3 billion package of accords for its role in Malaysia’s plundered 1MDB investment fund. JPMorgan Chase & Co. resolved a market-manipulation probe for more than $920 million. Citigroup Inc. was fined $400 million for failing to …read more
Source:: Yahoo Finance
