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.
September 26, 2013
November 27, 2012
[Image: The Bureau of Economic Analysis]
November 6, 2012
[Images: Sunlight Foundation, Wesleyan Media Project, Ward Room]
September 18, 2012
[Images: Julie Dermansky]
August 27, 2012
March 15, 2012
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