JPMorgan Chase Fined $264 Million Violations of Foreign Corrupt Practices Act

JP Morgan Chase Bank
JPMorgan Chase improperly hired the "unqualified" children of China's ruling elite to try to win lucrative business from the country's key decision makers, authorities alleged on Thursday. Regulators slapped JPMorgan (JPM) with $264 million in fines and said the bank "corruptly influenced government officials" with its hiring practices in China. The settlement ends a three-year investigation into JPMorgan and marks one of the first major crackdowns on a big U.S. bank for running afoul of t...