JPMorgan Chase is fighting back against a $4.25 million arbitration award given to a former wealth manager who was fired for expensing a $642.50 Super Bowl deli platter. The employee claimed he intended the spread for clients who never arrived, leading to what the industry now calls the 'salami incident.'

The award has become a Wall Street punchline that major banks aren't finding funny. JPMorgan filed a motion in California federal court Monday to vacate the decision, arguing it was 'lawless' and misrepresented the grounds for termination. The bank contends the former employee manipulated Financial Industry Regulatory Authority rules to engineer an outsized payout.

This case represents the latest flashpoint in banks' growing frustration with Finra's dispute resolution process. The industry's self-policing group adjudicates conflicts between advisers, brokers, investors and institutions, but large awards like this are prompting calls for rule changes. Major banks have had enough of costly claims that they view as abusive.

The 'salami incident' illustrates how seemingly minor expense disputes can explode into multimillion-dollar liabilities, forcing banks to reconsider their arbitration and employment practices. JPMorgan's challenge could reshape how financial firms handle internal misconduct cases.