My first impression upon reading about another bank fine is surprise that these two words are not a bigger trending topic in social media. After more than seven years of watching headlines with the words “bank” and “fine,” I suspect readers’ eyes glaze over and move on to the latest, truly disruptive news. But the latest news on the bank-fine front caught my eye, and for good reason.
The Wall Street Journal reported this Monday that State Street Corporation is nearing a settlement with federal authorities and clients to end civil lawsuits originating from alleged infractions executing FX client trades between 1998 and 2009. The settlement figure being floated is “more than US$500 million.”
Here‘s our takeaway from this latest story: