Friday April 19, 2024 | Last Update: April 19, 2024 EDT
JPMorgan Chase & Co will pay $388 million in exchange for settling a lawsuit by investors who claimed they were misled by the bank on the soundness of purchasing $10 billion worth of residential mortgage-backed securities it sold before the financial crisis.
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Leading financial services firm JP Morgan will have to face complaints from its 83 million clients which include households and small businesses after hackers were able to compromise the company’s computer systems in one of the massive security breaches in history.
Financial institution don't often reveal cyber attacks within their company for fears that their customers will be stricken with panic but on a surprising move, a massive firm admitted they had a crack in their security. A possible JP Morgan Chase hacking attacked has shocked the country on Thursday, leaving many people who employ their services at the edge of their seats. JP Morgan was just one of five other financial institutions that were victimized of a series of 'coordinated' cyber attacks.
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