The 'Salami Incident' That Has JPMorgan Chase on the Hook for $4.25M

JPMorgan Chase must pay $4.25 million to settle claims over a 2018 incident in which a financial adviser allegedly used client money to buy $44,000 worth of salami and other meats from a luxury grocer. The settlement stems from the bank's failure to prevent the unauthorized spending, which was flagged years later.