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The Market Ticker - Why Obey The Law?

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How many times have I talked about this over the last what now — 15 years?

State Street Corp (STT.N) agreed to pay a $115 million criminal penalty and enter a deferred prosecution agreement to resolve charges the bank defrauded customers by secretly overcharging them for back-office expenses, the U.S. Department of Justice said on Thursday.

According to settlement papers, State Street admitted that from 1998 to 2015 its executives defrauded customers out of more than $290 million through hidden markups.

No prison.  Less than half what they stole.  Allegedly they’ll “give it back”; so what?  It’s been more…….

(Click link to read more)



Source: https://market-ticker.org/akcs-www?post=242405


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