Reputation damage and modelling reputation risk
Banks’ reputations have not been in the best shape for some time, but some banks seem to fare better than others when it comes to dealing with the fallout of a reputational event. From Libor to the London Whale, OpRisk investigates why this might be
During the past two years, the financial sector has seen its fair share of reputational events. In 2013, JP Morgan alone paid out upwards of $14.8 billion in fines and settlements. This included a huge $13 billion settlement agreed with the US Department of Justice in order to settle federal and state civil claims arising from residential mortgage-backed securities (RMBS) marketed by JP Morgan and
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