September 26, 2013
All the Reasons Why JP Morgan May Be Facing the Biggest Bank Fine Ever

On Tuesday (Sept. 24), the Wall Street Journal reported that JP Morgan was offering the government $3 billion to settle (paywall) an unspecified number of criminal probes after the Department of Justice threatened to file suit in an investigation of its pre-crisis mortgage dealings. Yesterday, it reported that regulators are looking for something like $11 billion in compensation (paywall), including $7 billion in penalties and $4 billion in consumer relief.
These numbers are still in flux, but depending on how many cases the payment resolves, it would likely be the largest single-bank payout in the history of financial regulation, supplanting HSBC’s $1.92 billion money-laundering penalty.
Read more.

All the Reasons Why JP Morgan May Be Facing the Biggest Bank Fine Ever

On Tuesday (Sept. 24), the Wall Street Journal reported that JP Morgan was offering the government $3 billion to settle (paywall) an unspecified number of criminal probes after the Department of Justice threatened to file suit in an investigation of its pre-crisis mortgage dealings. Yesterday, it reported that regulators are looking for something like $11 billion in compensation (paywall), including $7 billion in penalties and $4 billion in consumer relief.

These numbers are still in flux, but depending on how many cases the payment resolves, it would likely be the largest single-bank payout in the history of financial regulation, supplanting HSBC’s $1.92 billion money-laundering penalty.

Read more.

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    FINALLY
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    Jp morgan goes back was farther than that….
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