Canadian whistleblower’s testimony leads to multi-billion dollar settlement
Article by Krysia Collyer and cross posted from globalnews.ca
For more than five years –big U.S. banks have been under scrutiny for their part in the 2007-2008 financial crisis.
JPMorgan Chase & Co. – America’s largest bank- is no different. For its part in the crash – the bank made an agreement with the U.S. Department of Justice to payout $13 billion to atone for misleading investors.
“I was completely caught off guard by the settlement,” says a former JPMorgan employee.
That’s Canadian-born, Alayne Fleischmann. She worked for JPMorgan as a transaction manager. Her job was to review and find the red flags in home loans the bank wanted to purchase from a mortgage lender.