Violation Tracker Individual Record
Company:
JPMorgan Chase
Current Parent Company:
JPMorgan Chase
Penalty:
$900,000
Year:
2015
Date:
January 22, 2015
Primary Offense:
consumer protection violation
Violation Description:
The Consumer Financial Protection Bureau and the Maryland Attorney General took action against Wells Fargo and JPMorgan Chase for what was said to be an illegal marketing-services-kickback scheme they participated in with Genuine Title, a now-defunct title company. The proposed consent orders, filed in federal court, would require $24 million in civil penalties from Wells Fargo, $600,000 in civil penalties from JPMorgan Chase, and $11.1 million in redress to consumers whose loans were involved in this scheme.
Level of Government:
federal
Action Type:
agency action
Agency:
Consumer Financial Protection Bureau
Civil or Criminal Case:
civil
HQ Country of Parent:
USA
HQ State of Parent:
New York
Ownership Structure of Parent:
publicly traded
Major Industry of Parent:
financial services
Specific Industry of Parent:
banking & securities
Source of Data:
Source Notes:
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note:
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.