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JPMorgan Pays out $920 Million Settlement

  +Follow September 19, 2013 10:19AM
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JPMorgan Chase & Co (JPM) can breathe a little easier as they’ve just taken a major step in putting the infamous “London Whale” trading loss behind them. On Sept. 19 the bank settled investigations into the bank’s attempt to cover up the trading loss. with the US Office of the Comptroller of Currency, The Securities and Exchange Commission, the Federal Reserve, and the UK Futures Trading Commission to the tune of $920 million, and an admission they violated federal financial laws.

The settlement placates the majority of governmental agencies that had been looking into the bank following the London Whale scandal came to a head. However, the bank is still being investigated by a handful of government agencies like the Federal Bureau of Investigation, the Justice Department, or notably the Commodity Futures Trading Commission. The settlements with those companies are expected to total in the hundreds of millions as well.

JPMorgan is going to great lengths to put distance between them and the London Whale, a massive trading loss out of the bank’s London branch that ended up costing $6.2 billion. JPMorgan hid the losses from investors, and initially understated them on their initial earnings report.

While this round of settlements gives JPMorgan some breathing room, their legal woes are far from over. Aside from the aforementioned agencies still investigating the company, the bank is still dealing with accusations they bribed Chinese officials for favorable contracts, and possible shareholders litigation. As JPMorgan was forced to admit they broke the law, shareholders could still theoretically try to recoup money they lost resulting from the stock drop caused by the London Whale.

Of particular note is the Commodity Futures Trading Commission, a regulatory body JPMorgan is going to great lengths to appease. The bank has already put their physical commodities desk up for sale, and is looking to move the controversial head of the bank’s commodities exchange out of the company.    

If JPMorgan is able to settle their legal troubles, the bank is poised to break out. The company posted record profits in 2012, and issued triumphant earnings reports in the first and second quarter of 2013.

JPMorgan is down 1.18 percent to hit $52.78 a share.

Results for jpm
Bradley Walters
23 Apr 14 12:40:44
Afternoon Unusual options activity: $JPM May calls bot $STR Oct calls bot $KO Jul calls bot $CCL Oct puts bot
Damien S. Faucher
23 Apr 14 11:56:06
$JPM Boston Properties Receives “Neutral” Rating from JPMorgan Chase & Co. (BXP) http://t.co/q6nXBjhhNN
Damien S. Faucher
23 Apr 14 11:45:03
$JPM Goldman, JPMorgan seek dismissal of aluminum price-fixing lawsuits http://t.co/XtOQaQy5SP
Teodor Gareth
23 Apr 14 11:41:05
$JPM American Axle & Manufact. Holdings's Underweight Rating Reaffirmed at ... http://t.co/wkeeq1AbSo
Teodor Gareth
23 Apr 14 11:41:05
$JPM Boston Properties Receives “Neutral” Rating from JPMorgan Chase & Co. (BXP) http://t.co/RE1i4GUh9E
apppro
23 Apr 14 11:40:32
Yeah they fixed the prices LOWER! STUPID! Goldman, JPMorgan seek dismissal of aluminum price-fixing lawsuits http://t.co/om9GmAAJ1c $JPM $GS
Damien S. Faucher
23 Apr 14 11:39:34
$JPM Goldman, JPMorgan seek dismissal of aluminum price-fixing lawsuits http://t.co/pyXBwHHMwj
Stock Wire
23 Apr 14 11:38:22
American Axle & Manufact. Holdings's Underweight Rating Reaffirmed at ... $JPM http://t.co/ixiZN4hfxZ
Stock Wire
23 Apr 14 11:38:21
Boston Properties Receives “Neutral” Rating from JPMorgan Chase & Co. (BXP) $JPM http://t.co/hfghjyn55c
Bishop SheltonDaniel
23 Apr 14 11:37:23
#Buy $DNAX #DNA #Energy #Drinks #New #CEO #Real #Experience > $FNMA $HEMP $PMCM $PHOT $PLPL $CBIS $JPM $GS $MS $TSLA $FB $TWTR $GOOG $MSFT
Damien S. Faucher
23 Apr 14 11:34:05
$JPM Goldman, JPMorgan seek dismissal of aluminium price-fixing lawsuits http://t.co/bRh9BE34M6
StockSaints
23 Apr 14 11:33:54
State Street Earnings For Friday Preview http://t.co/Vsg15zLIPF $STT $BK $JPM $NTRS
stk
23 Apr 14 11:32:22
@OptionsHawk anything with $JPM? would think will fill that earnings gap at some point?
$Stocknewsalerts
23 Apr 14 11:30:54
$JPM New SEC Document(s) for JPMorgan Chase & Co.
4-traders.com
23 Apr 14 11:30:05
Goldman Sachs : , JPMorgan seek dismissal of aluminium price-fixing lawsuits http://t.co/fUsVvdpCR2 $GS $JPM
Damien S. Faucher
23 Apr 14 11:23:07
$JPM The closest thing to a sure thing for your money http://t.co/b1iEAaUrvy
4-traders.com
23 Apr 14 11:20:03
STC selects banks for debut Sukuk issue http://t.co/NXfqw7hXB3 $7010 $JPM $STAN
Jerry Roth
23 Apr 14 11:03:15
@Jamtrades No doubt. Would have been good time. Energy is strong sector. Even banking is doing okay. Look at $JPM today. Green in red market
Orson Jagger
23 Apr 14 10:57:37
Regretting your investment in $JPM $WEN $FOXA $ABX Check out http://t.co/W8bhzjC6pw
$Stocknewsalerts
23 Apr 14 10:45:41
$JPM New SEC Document(s) for JPMorgan Chase & Co.
Kamakura Corporation
23 Apr 14 10:41:31
U.S. Dollar Cost Of Funds Index, April 22, 2014 $BAC $C $JPM $WFC http://t.co/EzWnuGsprI via @salphatrending
Jake13
23 Apr 14 10:38:47
$EXC Opinion Today Click here to find out if $EXC is a buy hold or sell. Watching these stocks. $ZNGA $JPM $SL http://t.co/f2tga2gNLV
Hamilton Chu
23 Apr 14 10:33:57
@canuck2usa Some call buyers in the May 30 55.50 calls in $JPM
Brady
23 Apr 14 10:30:15
Bought $JPM Sept 57.50 calls 1.81
Joe
23 Apr 14 10:29:38
@MarketplaceAPM: Should $goog Schmidt be criticized for earning $100m the same way $JPM's Dimon was for making $20m? http://t.co/r81LNB2F3r
WallStreet
23 Apr 14 10:26:39
$JPM - JPMorgan Chase & Co. (NYSE:JPM): Chasing Financial Pinnacle - http://t.co/tgarLN4rBk
MarketNews
23 Apr 14 10:25:35
$JPM - Assessing short-duration ETFs’ performance in the last 6 months -> http://t.co/HLSvfxBl7P #stock #stocks #stockaction
Rick
23 Apr 14 10:25:07
long some $GDX, and $JPM, fwiw
Trillidad Gainz
23 Apr 14 10:24:52
Followed the $ here...RT @JaguarAnalytics: $JPM Buyers of 5,000 May (30) Weekly 55.5 calls for up to $1.43; Looking for gap entry
Damien S. Faucher
23 Apr 14 10:22:35
$JPM New Shareholder Rejects VW's Scania Offer http://t.co/ZzdSzL0813
StockNews24
23 Apr 14 10:21:06
$JPM - Numericable Raises $10.9 Billion in Junk Bond Offering -> http://t.co/zZty0elt4e #stock #stocks #stockaction
Teodor Gareth
23 Apr 14 10:17:05
$JPM JPMorgan Chase & Co. Increases Valeant Pharmaceuticals Intl Price Target to ... http://t.co/1HiZFGph70
Stock Wire
23 Apr 14 10:13:38
JPMorgan Chase & Co. Increases Valeant Pharmaceuticals Intl Price Target to ... $JPM http://t.co/8XVUp13wUI
Shaun Downey
23 Apr 14 10:12:49
"@ACInvestorBlog: $GS $C $JPM nice action in a weak tape"
US Banking News
23 Apr 14 10:12:46
Investment Analysts’ Recent Ratings Updates for JPMorgan Chase & Co. $JPM http://t.co/umdTQ7ohLo
DK1
23 Apr 14 10:04:13
$JPM long Apr4 56 weekly calls various entries
Antonio Costa
23 Apr 14 09:53:49
$GS $C $JPM nice action in a weak tape
JaguarAnalytics
23 Apr 14 09:52:41
$JPM Buyers of 5,000 May (30) Weekly 55.5 calls for up to $1.43; Looking for gap entry
Market Newswire
23 Apr 14 09:31:06
New Shareholder Rejects VW's Scania Offer - http://t.co/dkioErcTCY $JPM #headlines #invest #news
clayton
23 Apr 14 09:11:02
$JPM 55.81 http://t.co/UpOIRlg0GR
Damien S. Faucher
23 Apr 14 08:59:07
$JPM Settlement time for U.S. trades closer to being shortened http://t.co/NOZC0vVIze
danrocks
23 Apr 14 08:55:29
$ECDC On Watch $JPM $XLB $KO $TSLA $TNA http://t.co/K1IQAoDSgp
Teodor Gareth
23 Apr 14 08:52:39
$JPM JPMorgan Chase & Co. Increases Liberty Property Trust Price Target to $39.00 ... http://t.co/kP4MEz84hQ
Stock Wire
23 Apr 14 08:40:46
JPMorgan Chase & Co. Increases Liberty Property Trust Price Target to $39.00 ... $JPM http://t.co/pVH0qQFagP
chartguy89
23 Apr 14 08:31:35
BMY Stock Chart $BMY $LWSP $FROZ $JPM http://t.co/6n9HyY6zJd http://t.co/w2jMRKH5Ns
DennyT
23 Apr 14 08:21:35
JPM Financials $JPM $TVIX $HD $WUBA $HDRE Barchart Opinion,TA,Low,Company News,On Watch Stock Quote http://www http://t.co/YNBYG5ReID
Louie
23 Apr 14 08:10:09
$MTG Book Value/Share = $2.20. That's about 80% down from today's PPS. $AAPL $FB $TSLA $RDN $GOOG $LNKD $YELP $BAC $GS $JPM $MS
Damien S. Faucher
23 Apr 14 08:09:04
$JPM A new frontier for Silicon Valley: The marijuana trade http://t.co/2QECOOKIhi
Teodor Gareth
23 Apr 14 08:01:38
$JPM Poundland Group PLC Coverage Initiated at JPMorgan Chase & Co. (PLND) http://t.co/szo9nuMq5p
LBP
23 Apr 14 08:01:32
#Buy $DNAX #DNA #Energy #Drinks #New #CEO #Real #Experience > $FNMA $HEMP $PMCM $PHOT $PLPL $CBIS $JPM $GS $MS $TSLA $FB $TWTR $GOOG $MSFT
				
				
  +Follow September 19, 2013 10:19AM
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