Violation Tracker Individual Record

Company: 
JPMorgan Chase
Current Parent Company: 
JPMorgan Chase
Penalty: 
$1,066,000,000
Year: 
2013
Date: 
November 19, 2013
Primary Offense: 
toxic securities abuses
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 https://violationtracker.goodjobsfirst.org/violation-tracker/-jpmorgan-c...

Level of Government: 
state
Action Type: 
agency action
Agency: 
Multistate Attorneys General Case
Civil or Criminal Case: 
civil
Private Lawsuit Resolution Type: 
settlement
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 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.