How significant is a $13 billion fine for JPMorgan?
3:12
JPMorgan's $13 Billion Settlement With U.S. Government
7:35
Will JPMorgan's settlement set incentives for better banking
The Justice Department announced that JPMorgan Chase agreed to pay $13 billion to settle investigations into its business practices pertaining to mortgage-backed securities. Of that amount, $9 billion was penalties and fines and the remaining $4 billion was consumer relief. This was the largest corporate settlement to date.
Essentials
History
Chase Manhattan Bank
Chemical Banking Corporation
J.P. Morgan & Company
Bank One Corporation
Bear Stearns
Washington Mutual
Other recent acquisitions
Recent history
Financial data
2018
Structure
JPMorgan Europe, Ltd.
Operations
Lobbying
Global Health Investment Fund
Enron
WorldCom
Jefferson County, Alabama
Failure to comply with client money rules in the UK
Mortgage overcharge of active military personnel
Truth in Lending Act litigation
Alleged manipulation of energy market
Criminal investigation into obstruction of justice