Justice using JPM settlement to pursue other banks

In a historic settlement. Bank of America, Wells Fargo, Ally Bank (formerly GMAC), Citibank, and JP Morgan Chase – may not put an end to litigation involving their actions. On Jan. 27, US Attorney.

What the Barclays Settlement Means for Other Banks. The bank also reached settlements with the Commodity Futures Trading Commission and the Justice Department in the United States, and the Financial Services Authority of Britain, paying about $450 million in fines and civil penalties.

DOJ announces JPMorgan settlement. The Justice Department on Tuesday announced a $13 billion settlement with JPMorgan Chase over allegations that the bank misled investors over faulty mortgage bonds sold in the lead-up to the 2008 financial crisis -a record deal that has put a major dent in the reputation of the country’s biggest bank.

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HSBC Holdings Plc, Royal Bank of Scotland Group Plc, JPMorgan Chase & Co, Citigroup Inc. which has typically been more aggressive on enforcement than other jurisdictions, the Department of Justice,

The Justice Department plans to use its tentative $13 billion settlement with JPMorgan Chase as a blueprint for reaching similar deals with other banks in probes related to bad mortgages and the.

JPMorgan Chase. Two month later, the Justice Department announced that JPMorgan was one of a group of banks pleading guilty to criminal charges of conspiring to fix foreign currency rates. JPMorgan was fined 0 million (and another $342 million by the Federal Reserve) and put on probation for three years.

The Justice Department’s portion of the JPMorgan settlement went to the U.S. Treasury, but the department can keep up to three percent of money it collects for other federal agencies to use for.

Along with paying $135 million, the Swiss banking giant also agreed to provide documents and other assistance to plaintiffs as they pursue claims against other banks. That clause in the settlement.

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Banks are using the government’s flawed settlement with JP Morgan (JPM) to calculate their likely legal bills stemming from mortgage market abuses tied to the financial crisis, signaling that.

All your questions about JP Morgan's settlement answered.. then the Justice Department in Washington got wind of it, and then the other regulators piled on.. So the banks couldn't follow the paperwork back to your specific.