Big Banks Fined $53 Million for Failing to Report Derivatives Data

JPMorgan Chase, Bank of America, and Goldman Sachs fined $53 million total for failing to properly report derivatives transactions.

Goldman Sachs fined $30 million for "unprecedented failures" related to reporting swap data.

Bank of America failed to report or incorrectly reported almost 4 million swap transactions.

JPMorgan failed to report data on over 150,000 foreign exchange swap transactions.

Banks admitted allegations except Goldman Sachs, which did not admit to CFTC's claims.