JPMorgan Chase Has Paid $38,995,000,000 in Fines for Banking, Securities and Additional Violations As New SEC Enforcement Action Kicks In
JPMorgan Chase is approaching the $39 billion mark in total fines imposed by US regulators, enforcement agencies and lawsuits related to anti-competitive practices, false advertising and other violations. A recent $4 million fine issued by the SEC against the banking giant will bring the amount of money JPMorgan has paid for banking, securities and additional fines since 2000 to $38.995 billion. Thats according to data from the Violation Tracker, a comprehensive corporate misconduct database that is currently updated to just before the new SEC fine was announced. JPMorgan did not issue a public comment in response to the SECs enforcement action, which stated that the firm deleted 47 million emails that were required to be properly maintained and accessible to regulators. The SEC says at least a dozen ongoing securities investigations have requested documents from the firm that are no longer accessible. In addition to fines from US regulators and enforcement agencies, the Violation Tracker includes a group of state and federal lawsuits in its figures. Those lawsuits include private litigation on wage and hour employment discrimination, ERISA and other retirement plan abuses, Fair Credit Reporting Act cases, WARN Act non-workplace discrimination, environmental consumer protection, false advertising, product liability, privacy and data breaches, price-fixing and related