JPMorgan Chase Pays $40,000,000,000 in Fines and Settlements As US Bank Battles Hundreds of Ongoing Legal Challenges: Report

JPMorgan Chase has now paid more than $40 billion in total fines and settlements to regulators, enforcement agencies and lawsuits related to anti-competitive practices, securities abuses and other violations.

That’s according to new numbers from the public Violation Tracker, a corporate misconduct database that tracks cases from the year 2000 until now.

In the last seven quarters alone, JPMorgan Chase has paid a whopping $2 billion to settle a list of accusations against the banking giant, reports  Wall Street on Parade.

The bank has paid the sum to settle accusations of criminal misconduct, regulatory violations, market manipulation and alleged involvement in enabling Jeffrey Epstein’s sex trafficking activities, among other alleged legal and ethical breaches.

Late last month, JPMorgan wrapped up five settlements at once with the US regulators, paying $151 million to settle allegations include misleading disclosures, breaches of fiduciary duty and prohibited trades.

After the flurry of settlements, JPMorgan Chase says in new regulatory filings that it’s now facing “several hundred” open legal cases.

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 profit in 2023.

Generated Image: Midjourney