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Violation Tracker Individual Record

Company: JPMorgan Chase
Current Parent Company: JPMorgan Chase
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $614,000,000
Year: 2014
Date: February 4, 2014
Offense Group: government-contracting-related offenses
Primary Offense: False Claims Act and related
Mega-Scandal: Mortgage Abuses
Violation Description: The Department of Justice announced that JPMorgan Chase would pay $614 million for violating the False Claims Act by knowingly originating and underwriting non-compliant mortgage loans submitted for insurance coverage and guarantees by the Federal Housing Administration and the Department of Veterans Affairs.
Level of Government: federal
Action Type: agency action
Agency: Justice Department Civil Division
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking & securities
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.