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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: 

http://www.consumerfinance.gov/about-us/newsroom/cfpb-takes-action-again... (archived copy)

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.