What went wrong when JP Morgan bought FAFSA company Frank : The Indicator from Planet Money One of the world's biggest banks acquires a promising tech company, and things go very, very wrong. It's a flashy tech startup story with some surprisingly low-tech twists and a web of alleged lies.

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A big bank's big mistake, explained

A big bank's big mistake, explained

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Michel Euler/AP
FILE - JPMorgan Chase CEO Jamie Dimon attends the inauguration the new French headquarters of the bank in Paris on June 29, 2021. At $84.4 million, Dimon was the fifth highest-paid CEO for 2021, as calculated by The Associated Press and Equilar, an executive data firm. (AP Photo/Michel Euler, Pool, File)
Michel Euler/AP

One of the world's biggest banks acquired a promising startup offering potential customers in a prime demographic. What could possibly go wrong?

Today, we unspool the alleged deception behind the deal between JP Morgan Chase and fintech company, Frank. Along the way, we learn it's harder to forge user data than you might think.

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For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.