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Violation Tracker Individual Record

Company: Bear Stearns Companies, LLC
Current Parent Company: JPMorgan Chase
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $28,000,000
Year: 2008
Date: September 9, 2008
Offense Group: consumer-protection-related offenses
Primary Offense: mortgage abuses
Mega-Scandal: Mortgage Abuses
Violation Description: The Bear Stearns Companies LLC and its subsidiary EMC Mortgage Corporation agreed to pay $28 million to settle Federal Trade Commission charges that they engaged in unlawful practices in servicing consumers' home mortgage loans.
Level of Government: federal
Action Type: agency action
Agency: Federal Trade Commission
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.