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News Link • Criminal Justice System

Calif. county rebukes JP Morgan, Bank of America over fraud settlements

• Rawstory

Officials in Santa Cruz county, California, have cut all ties with Bank of America and JP Morgan Chase after an examination of both organizations’ histories of cash settlements over fraud allegations.

Santa Cruz Treasurer-Tax Collector Fred Keeley said Thursday evening that the banks, which were handling some of the county’s bond investments, had engaged in unacceptable practices that should alarm any official charged with handling public dollars.

 

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