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Violation Tracker Individual Record

Company: JPMorgan Chase
Current Parent Company: JPMorgan Chase
Penalty: $1,066,000,000
Year: 2013
Date: November 19, 2013
Offense Group: financial offenses
Primary Offense: toxic securities abuses
Secondary Offense: investor protection violation
Mega-Scandal: Toxic Securities
Violation Description: JPMorgan Chase agreed to pay more than $1 billion to five states to settle litigation involving allegations of misrepresentations in the packaging, marketing, sale and issuance of residential mortgage-backed securities by JPMorgan, Bear Stearns and Washington Mutual. The five states were California ($298.9 million), Delaware ($19.7 million), Illinois ($100 million), Massachusetts ($34.4 million) and New York ($613 million). This was part of a larger $13 billion settlement involving the federal government; see the Violation Tracker entry at (click here)
Level of Government: state
Action Type: agency action
Agency: Multistate Attorneys General Case
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.