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JPMorgan Chase to spend an extra $4B on compliance

JPM Chase

Mega bank JPMorgan Chase (JPM) is playing it safe. After a series of investigations and a plethora of new rules, the bank is reportedly prepared to allocate an additional $4 billion to cover risk and compliance issues, Seeking Alpha reports.

The financial publication says:

The bank will spend a further $1.5B on managing risk and complying with regulations, and provision an extra $2.5B for litigation. It has already spent $18B since 2008 in legal expenses.

The investigations into JPM include those into its London Whaling Loss and mortgage bonds.

Source: Seeking Alpha

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