JPMorgan Chase has now paid greater than $40 billion in complete fines and settlements to regulators, enforcement businesses and lawsuits associated to anti-competitive practices, securities abuses and different violations.
That’s in accordance with new numbers from the general public Violation Tracker, a company misconduct database that tracks instances from the yr 2000 till now.
Within the final seven quarters alone, JPMorgan Chase has paid a whopping $2 billion to settle an inventory of accusations towards the banking large, reports Wall Road on Parade.
The financial institution has paid the sum to settle accusations of legal 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 embody deceptive disclosures, breaches of fiduciary obligation and prohibited trades.
After the flurry of settlements, JPMorgan Chase says in new regulatory filings that it’s now going through “a number of hundred” open authorized instances.
The instances contain a mixture of authorities actions, akin to these introduced by regulators just like the SEC or the Division of Justice, in addition to non-public lawsuits akin to class actions.
JPMorgan Chase says it generated $49.55 billion in revenue in 2023.
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