Regulatory uncertainty, toxic environment drive Wells Fargo, Prospect out of MSAs

Meet our incredible 2015 Women of Influence

Announcing 40 leaders driving the housing economy

Trending Thursday: Is the job description “financial press” or “palace guard?”

From the Fed to FannieGate, plus the impact of banking regulations and more
W S
Investments / The Ticker

JPMorgan Chase to spend an extra $4B on compliance

JPM Chase
/ Print / Reprints /
| Share More
/ Text Size+

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
Read full story
Comments powered by Disqus