JPM Crime Sheet - peterwsuter.ch

April 21, 2011, JPMorgan Chase agreed to settle a civil lawsuit  and pay $56 million to settle claims that it overcharged members of the  military service on their mortgages in violation of the Service Members  Civil Relief Act and the Housing and Economic Recovery Act of 2008.

February 7, 2012, JPMorgan Chase agreed to pay $110 million to settle consumer litigation that claimed it overcharged customers for overdraft fees.

February 9, 2012, JPMorgan Chase reaches an agreement with the OCC to pay $113 million for unsafe and unsound mortgage servicing and foreclosure practices.

August 10, 2012, JPMorgan Chase agreed to pay $1.2 billion to settle claims that it, along with other banks, conspired to set the price of credit and debit card fees.

November 16, 2012, JPMorgan Chase agreed to pay $296.9 million to the SEC to settle claims that it misstated information about the delinquency status of its residential mortgage portfolio.

July 2013, a unit of JPMorgan Chase agreed to pay $410 million  to the Federal Energy Regulatory Commission to settle claims of bidding  manipulation of California and Midwest electricity markets.

September 19, 2013, JPMorgan Chase agreed to pay  $80 million in combined fines to the Consumer Financial Protection  Bureau (CFPB) and Office of the Comptroller of the Currency (OCC) and  $309 million in refunds to customers whom the bank billed for credit  monitoring services that the bank never provided.

September 19, 2013, JPMorgan Chase agreed to pay $920 million  to U.S. and U.K. regulators for its unsafe and unsound banking  practices in using bank depositors’ money to trade in derivatives in  London. It lost at least $6.2 billion in the trades. This was known as  the “London Whale” scandal.

November 15, 2013, JPMorgan Chase announced that it had agreed to pay $4.5 billion to settle claims by private investors that it defrauded them in mortgage-backed securities.

November 19, 2013, JPMorgan agreed to pay $13 billion  to settle claims by the Department of Justice; the FDIC; the Federal  Housing Finance Agency; and various State Attorneys General over its  fraudulent practices with respect to mortgage-backed securities.  JPMorgan acknowledged it made serious misrepresentations to the public.

December 4, 2013, JPMorgan Chase agreed to pay 79.9 million Euros to settle claims of the European Commission relating to illegal rigging of benchmark interest rates.

In December 2013, JPMorgan Chase agreed to pay $22.1 million  to settle claims that the bank imposed expensive and unnecessary flood  insurance on homeowners whose mortgages the bank serviced.

January 7, 2014 the U.S. Department of Justice charged JPMorgan Chase with two criminal counts  for its banking conduct in the Bernard Madoff Ponzi scheme. The bank  admitted to the charges; agreed to pay $1.7 billion to a Madoff victim  fund and agreed to a Deferred Prosecution Agreement.

May 20, 2015, JPMorgan Chase pleaded guilty to one criminal count  brought by the U.S. Department of Justice for its role with other banks  in rigging the foreign exchange market. The bank agreed to a fine of  $550 million.

December 18, 2015 the bank agreed to charges by the SEC that  it had steered its customers into in-house products where it reaped  higher profits without disclosing this conflict to the customer. It paid  $267 million to settle these charges.

On January 20, 2017 JPMorgan Chase agreed to pay $53 million to settle charges that it had discriminated against minority borrowers by charging them more for a mortgage than white customers.

October 2018 JPMorgan Chase agreed to pay $5.3 million to settle U.S.  Treasury allegations that “it violated Cuban Assets Control  Regulations, Iranian sanctions and Weapons of Mass Destruction sanctions  87 times,” according to Reuters.

December 26, 2018 JPMorgan Chase settled claims with the SEC for $135 million over charges that it had improperly handled thousands of transactions involving the shares of foreign companies.

May 16, 2019, JPMorgan Chase settled charges for 228.8 million Euros with the European Commission that it rigged the foreign exchange market. (Other banks were also fined.)

September 16, 2019, the U.S. Department of Justice indicted two  current and one former precious metals traders at JPMorgan Chase for  turning the precious metals desk at the bank into a “racketeering”  enterprise.

September 29, 2020, the U.S. Department of Justice brings two counts of wire fraud  against JPMorgan Chase involving “tens of thousands of episodes of  unlawful trading in the markets for precious metals futures contracts,  and the second involving thousands of episodes of unlawful trading in  the markets for U.S. Treasury futures contracts and in the secondary  (cash) market for U.S. Treasury notes and bonds.” The bank admits to the  charges and agrees to pay $920 million in fines and restitution to  various regulators.

December 17, 2021, the securities unit of JPMorgan Chase admits its  traders and their supervisors were using personal communications devices  to conduct company business. The firm failed to record and retain  messages from these devices as required under the law. These violations  occurred despite similar conduct in the bank’s participation in the  rigging of the foreign exchange market, where traders used unauthorized  electronic chat rooms, called “The Cartel” and “The Mafia.” That case  brought a criminal felony charge against the bank by the Justice  Department in May of 2015. In the current case, the SEC fined the firm $125 million.