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Their DD led them to make a $175M mistake which means it’s no bueno. If you’re a @jpmorgan I-Banking client. Why? https://t.co/H8nGMliZl7
A federal judge said JPMorgan Chase must face a lawsuit accusing the bank of colluding with owners of the American Dream mall to destroy junior lenders’ rights to repayment on a $300 million loan https://t.co/WwwdUcK25b
JP Morgan paid $175M for a Frank, a company that claimed to have 4M customers with detailed contact information whom the bank could pitch. During the trial JPM said that they acquired 10 customers from the list. $17.5M per acquisition! https://t.co/X6UmZVieAR
A federal judge has dismissed a lawsuit against Citigroup's fee waiver program for minority-owned banks, ruling that the plaintiffs, who were customers of JPMorgan Chase and Bank of America and incurred higher fees at Citigroup ATMs, lacked standing to sue. In a separate legal matter, JPMorgan Chase is facing a lawsuit alleging collusion with the owners of the American Dream mall, which purportedly undermined the rights of junior lenders to repayment on a $300 million loan. Additionally, the bank is under scrutiny for its $175 million acquisition of the company Frank, which claimed to have 4 million customers. During the trial, JPMorgan stated it had only acquired 10 customers from this list, equating to $17.5 million per acquisition.
