Reeling from its “London Whale” scandal, accusations it hired the children of government officials to boost business operations in China, and a cyber-attack that compromised sensitive data for approximately 76 million households, and more than $23 billion in penalties over the past few years, JPMorgan Chase has issued a 100-page report that details efforts to improve compliance, culture, and internal controls.
The report, “How We Do Business,” comes in response to a request from The Sisters of Charity of Saint Elizabeth, a shareholder and member of the Interfaith Center on Corporate Responsibility. They asked the bank for “comprehensive transparency regarding the challenges faced by the bank and controls put in place to address them.”
