JPMorgan response to DOJ settlement sends crucial message

JPMorgan Chase Announces Settlements with the U.S. Department of Justice and the Federal Reserve Related to Foreign Exchange Activities May 20, 2015 10:06 AM Eastern Daylight Time

In reality it does none of those things. In fact, this mega-settlement would be in some ways the worst possible response to the economic destruction of the crisis and the Great Recession. For starters, it does absolutely nothing to make the financial system safer.

And, "It sends a message to offenders. The money allocated Wednesday includes $1.7 million from a settlement this summer with JPMorgan Chase in a debt collection practices case, Duncan said. Murga.

JP Morgan Chase Settles Up with DOJ, Fed Related to Foreign Exchange Activities May 26, 2015 – NEW YORK-(BUSINESS WIRE)-JPMorgan Chase & Co. (NYSE:JPM) recently announced settlements with the U.S. Department of Justice (DOJ) and the Federal Reserve (Fed) relating to the Firm’s foreign exchange (FX) trading business.

The U.S. Department of Justice (DOJ) has announced that JPMorgan Chase will pay $614 million for violating the False Claims Act by knowingly originating and underwriting non-compliant mortgage loans submitted for insurance coverage and guarantees by the Department of Housing and Urban Development’s (HUD) Federal Housing Administration (FHA) and the Department of Veterans Affairs (VA).

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What the Settlement Means. For JPMorgan investors, the settlement is likely to be seen as a positive development for the bank, which saw its third quarter earnings wiped out by provisions set aside to cover legal claims. JPMorgan said on Tuesday that it is "fully reserved" for Tuesday’s groundbreaking settlement.

A transparency initiative led by the California Department of Justice that publishes criminal justice data so we can understand how we are doing, hold ourselves accountable, and improve public policy to make California safer.

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Ezra Ross and Martin Pritikin’s well-researched article regarding the collection of fines and penalties imposed on corporate offenders answers the question of what.

Sharga: Several more years with nearly 1M foreclosures per year The housing market faces several more years with 800,000 to 1 million new foreclosed properties per year, according to Rick Sharga, an executive vice president with Carrington Mortgage Services. Sharga recently left RealtyTrac , where he helped build a network that tracked foreclosure filings across the country.

DOJ announces JPMorgan settlement. But in recent months JPMorgan has faced a slew of investigations by the government into its business practices, which it has been aggressively working to settle. For instance, the bank agreed in September to a $920 million settlement with regulators over the London Whale trading mess,