A newspaper article about racial discrimination sent shock waves throughout J.P. Morgan, the biggest U.S. lender with 257,000 employees.
J.P. Morgan Chase admitted to failures brought to light in a New York Times article last month and said it had taken a series of steps to learn from the episode.
"It's clear Mr. Kennedy had a terrible customer experience with us," the bank said. "Our review of the matter found there was a series of administrative delays in processing his investments that would have frustrated any client."Spencer Platt | Getty Imagesadmitted to failures brought to light in a New York Times article last month and said it had taken a series of steps to learn from the episode.
"The Times also reported about a client, Jimmy Kennedy, who experienced multiple delays in onboarding, from opening a new investment to transferring money in his account," bank executives said in the letters obtained by CNBC. "It's clear Mr. Kennedy had a terrible customer experience with us. Our review of the matter found there was a series of administrative delays in processing his investments that would have frustrated any client.
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