That Wells Fargo has been described as a “corporate recidivist”, the most problematic repeat offenders of all banks; and we are donating $60 Million to an Anti-Recidivism Program for criminal offenders??? 😏
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Well, JP does it so……….
Of course CS will follow suit.
It's like when Wells brags about giving away $1 million to some charity when they make billions in profit per quarter.
So impressive that we give away 0.000x% of profits to charity. Such generous behavior.
It's all part of the business. Politicians and regulators don't really want the banks to never do anything wrong. Otherwise, they wouldn't have anything to do. They like having banks to fine and penalize. It's their job security. And in addition to the fines and penalties, they have the banks donate money to causes they favor.
The banks figure it's easier to pay the fines and donate money to favored causes rather than spend the real money it would take to clean up their act and forgo the profits associated with skirting regulations.