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JPMorgan Chase Bank Wrongly Charged 170,000 Customers Overdraft Fees. Federal Regulators Refused to Penalize It.

Federal bank examiners considered levying fines and sanctions when JPMorgan Chase informed them last year that faulty overdraft charges caused by a software glitch had impacted roughly 170,000 customers. But the bank urged the Office of the Comptroller of the Currency, or OCC, its chief regulator, to take less severe action, according to two people directly involved in the probe and internal documents reviewed by ProPublica and The Capitol Forum. Rather than openly penalizing Chase, the nation�...
United States Donald Trump Bao Nguyen Barack Obama Michael Fusco Steve Mnuchin

JPMorgan Chase Bank Wrongly Charged 170,000 Customers Overdraft Fees. Federal Regulators Refused to Penalize It.

The JPMorgan Chase & Co. world headquarters in New York City. (Johannes EISELE/AFP via Getty Images) ProPublica is a nonprofit newsroom that investigates abuses of power. Sign up to receive our biggest stories as soon as they’re published. This story was co-published with The Capitol Forum. Federal bank examiners considered levying fines and sanctions when JPMorgan Chase informed them last year that faulty overdraft charges caused by a software glitch had impac...
United States Donald Trump Bao Nguyen Barack Obama Michael Fusco Steve Mnuchin

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