Regulators fine it $20M for improper lending
(NEWSER) - Federal regulators have filed their first action related to the momentous, crisis-sparking collapse of Lehman Brothers, but it won't amount to much. The Commodity Futures Trading Commission today filed a civil case against JPMorgan Chase, accusing it of overextending credit to Lehman, the New York Times reports. But JPMorgan settled the complaint without admitting wrongdoing, and will pay a fine of just $20 million—relative chump change for an outfit of JPMorgan's size. “The firm cooperated with the investigation and is pleased to have resolved this matter with the CFTC," said JPMorgan in a statement. More»