JPMorgan Chase has now paid a total of more than $40 billion in fines and settlements to regulators, enforcement agencies and lawsuits related to anticompetitive practices, securities misuse and other violations.
This is evident from new figures from the public Violation Tracker, a database for corporate misconduct that tracks cases from the year 2000 to the present.
In the past seven quarters alone, JPMorgan Chase has paid as much as $2 billion to settle a list of allegations against the banking giant, Wall Street reports on Parade.
The bank paid the sum to settle allegations of criminal misconduct, regulatory violations, market manipulation and alleged involvement in enabling Jeffrey Epstein’s sex trafficking activities, among other alleged legal and ethical violations.
Late last month, JPMorgan reached five settlements with U.S. regulators in one go, paying $151 million to settle charges including misleading disclosures, breaches of fiduciary duties and prohibited transactions.
After the wave of settlements, JPMorgan Chase says in new regulatory filings that it now faces “several hundred” outstanding lawsuits.
The cases involve a mix of government actions, such as those brought by regulators like the SEC or the Department of Justice, as well as private lawsuits such as class actions.
JPMorgan Chase says it generated $49.55 billion in profits in 2023.
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