Banking and Finance

Recent Posts

A Closer Look at JP Morgan's $920 Million "London Whale" Regulatory Settlements
Posted on 20 Sep 2013 by Kevin M. LaCroix

As part of its September 19, 2013 entry into a total of $920 million in regulatory settlements related to the “London Whale” trading loss debacle, and as part of the SEC’s new policy requiring admissions of wrongdoing in certain “egregious”... Read More

Chase to Pay $389M to Settle Credit Card Fees Allegations
Posted on 20 Sep 2013 by Michael J. Lello

WASHINGTON, D.C. — (Mealey’s) JPMorgan Chase & Co. (Chase) on Sept. 19 agreed to pay $80 million in fines to settle allegations by the Consumer Financial Protection Bureau (CFPB) and Office of the Comptroller of the Currency (OCC) that... Read More

JPMorgan to Pay Record $1.7B to Settle Claims It Failed to Report Madoff Fraud
Posted on 7 Jan 2014 by Timothy Raub

NEW YORK — (Mealey’s) JPMorgan Chase Bank NA has agreed to a civil forfeiture of a record $1.7 billion to settle claims that it violated provisions of the Bank Secrecy Act during its time as the primary bank for Bernard L. Madoff’s massive... Read More

Justice Department Reaches Record $13B Settlement with JPMorgan
Posted on 19 Nov 2013 by Timothy Raub

WASHINGTON, D.C. — (Mealey’s) In what it is calling the largest settlement with a single entity in American history, the U.S. Department of Justice announced in a press release on Nov. 19 that it has reached a $13 billion settlement with JPMorgan... Read More

JPMorgan Offers $4.5 Billion Settlement to Mortgage-Backed Securities Trustees
Posted on 18 Nov 2013 by Timothy Raub

NEW YORK — (Mealey’s) JPMorgan Chase & Co. will issue a binding offer to the trustees of 330 residential mortgage-backed securities (RMBS) trusts that were issued by J.P. Morgan Chase and Bear Stearns, after reaching a $4.5 billion agreement... Read More

Could JP Morgan Face Criminal Charges For Role in Madoff Ponzi Scheme?
Posted on 25 Oct 2013 by Jordan D. Maglich

In an unprecedented move, federal authorities are reportedly weighing the filing of criminal charges against financial behemoth JP Morgan for its role in Bernard Madoff's massive Ponzi scheme. According to the New York Times, both the Federal Bureau... Read More