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
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
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.
