this post was submitted on 08 Aug 2023
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Banks hit with $549 million in fines for use of Signal, WhatsApp to evade regulators’ reach (www.cnbc.com)
submitted 1 year ago by [email protected] to c/[email protected]
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Banks hit with $549 million in fines for use of Signal, WhatsApp to evade regulators’ reach::Wells Fargo, a relatively small player on Wall Street, racked up the most fines Tuesday, with a total of $200 million in penalties.

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[–] [email protected] 11 points 1 year ago (1 children)

The obvious first step is revocation and personal barring for life every single person who participated in the communication from holding a SEC license. The second is jail time for anyone who did it willfully. The third is revocation of their corporation or, in the interest of stockholders who are about to become personally liable, a 50 year probationary period in which revocation of corporation is automatic should any other infraction come to light.

[–] [email protected] 5 points 1 year ago

But since the wolves are minding the hen house that'll never happen.. it'll take French tactics.