Combating corruption/ Loan officers focused on their own illegal financial gain 

U.S. and state regulators ordered Wells Fargo (WFC.N) and JPMorgan Chase (JPM.N) to collectively pay $35.7 million on Thursday to settle charges that they participated in an illegal marketing kickback scheme with a now-defunct title company.

The Consumer Financial Protection Bureau and the Maryland Attorney General's Office ordered Wells Fargo to pay a $24 million penalty plus another $10.8 million in redress to consumers. JP Morgan will pay a $600,000 penalty, plus another $300,000 in redress, the CFPB said.

The CFPB said the former title company, Genuine Title, would give the banks' loan officers cash, marketing materials and other consumer information in exchange for business referrals.

U.S. fines Wells Fargo, JPMorgan over 'illegal mortgage kickbacks'