JPMorgan Chase has now paid greater than $40 billion in complete fines and settlements to regulators, enforcement companies and lawsuits associated to anti-competitive practices, securities abuses and different violations.
That’s based on new numbers from the general public Violation Tracker, a company misconduct database that tracks circumstances from the 12 months 2000 till now.
Within the final seven quarters alone, JPMorgan Chase has paid a whopping $2 billion to settle an inventory of accusations in opposition to the banking large, reports Wall Avenue on Parade.
The financial institution has paid the sum to settle accusations of prison misconduct, regulatory violations, market manipulation and alleged involvement in enabling Jeffrey Epstein’s intercourse trafficking actions, amongst different alleged authorized and moral breaches.
Late final month, JPMorgan wrapped up 5 settlements directly with the US regulators, paying $151 million to settle allegations embrace deceptive disclosures, breaches of fiduciary responsibility and prohibited trades.
After the flurry of settlements, JPMorgan Chase says in new regulatory filings that it’s now dealing with “a number of hundred” open authorized circumstances.
The circumstances contain a mixture of authorities actions, resembling these introduced by regulators just like the SEC or the Division of Justice, in addition to personal lawsuits resembling class actions.
JPMorgan Chase says it generated $49.55 billion in revenue in 2023.
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