Posted: Sep 28, 2013 6:51 am
by GT2211
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.

So far this year JP Morgan has been fined billions and is facing investigations over mortgage fraud, Libor, and Madoff among others. A list of the investigations are in teh link. ... er/280016/