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Ugly Bargains Between Banks and Regulators Are Rearing Their Head Again

In the scene, swashbuckling hedge fund manager Bobby Axelrod discovers he has been lured into criminal vulnerability by his arch nemeses, New York Attorney General Chuck Rhoades Jr. and financier Mike Prince. After being baited into accepting deposits at his newly incorporated Axe Bank from a cannabis company, Axelrod is told he was in breach of fiduciary duty for not “knowing your customer.” It turns out that the weed supplier had been selling unauthorized product, a crime for which Axelrod and his bank would now also be culpable.