JPMorgan Chase Shuts Down Fintech Website, Says Founder Lied About Size of Customer Base
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It looks like Jamie Dimon's famous fear of fintech has gotten the best of him.
On Thursday, JPMorgan Chase shuttered Frank, a financial aid planning platform for college students, and sued the company's founder for grossly misrepresenting its customer base by loading it with millions of fake accounts. You might be asking why someone would have the temerity to scam the biggest bank in America, but the real question might be how did JPMorgan CEO Dimon, aka "America's Banker," and his team let themselves get flim-flammed?
Source Fool.com
