Violation Tracker Individual Record

JPMorgan Chase
Current Parent Company: 
JPMorgan Chase
November 19, 2013
Offense Group: 
financial offenses
Primary Offense: 
toxic securities abuses
Violation Description: 

The Justice Department, along with federal and state partners, announced a $13 billion settlement with JPMorgan to resolve federal and state civil claims arising out of the packaging, marketing, sale and issuance of residential mortgage-backed securities by JPMorgan, Bear Stearns and Washington Mutual prior to Jan. 1, 2009. As part of the settlement, JPMorgan acknowledged it made serious misrepresentations to the public about numerous RMBS transactions. The resolution also required JPMorgan to provide much needed relief to underwater homeowners and potential homebuyers. The settlement did not absolve JPMorgan or its employees from facing any possible criminal charges.

Level of Government: 
Action Type: 
agency action
Justice Department multiagency referral
Civil or Criminal Case: 
HQ Country of Parent: 
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.