40 Facts About JP Morgan


Additionally, JPJP Morgan Chase is ranked 24th on the Fortune 500 list of the largest United States corporations by total revenue.

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JPJP Morgan Chase is considered to be a universal bank and a custodian bank.

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JP Morgan brand is used by the investment banking, asset management, private banking, private wealth management, commercial banking, and treasury services divisions.

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JP Morgan invested in the suppliers of war equipment to Britain and France.

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JP Morgan profited from the financing and purchasing activities of the two European governments.

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JP Morgan merged with the Guaranty Trust Company of New York to form the JP Morgan Guaranty Trust Company.

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JPJP Morgan Chase completed the acquisition of Bank One in the third quarter of 2004.

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JP Morgan announced plans to complete the rebranding of Washington Mutual branches to Chase by late 2009.

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JPJP Morgan had been chosen by the county commissioners to refinance the county's sewer debt, and the SEC had alleged that JPJP Morgan made undisclosed payments to close friends of the commissioners in exchange for the deal and made up for the costs by charging higher interest rates on the swaps.

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JP Morgan, resulting in a violation of FSA regulations but no losses to clients.

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In January 2011, JPJP Morgan Chase admitted that it wrongly overcharged several thousand military families for their mortgages, including active-duty personnel in the War in Afghanistan.

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Reuters reported that JPJP Morgan Chase was facing over a dozen investigations at the time.

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JP Morgan said that the Department of Justice had preliminarily concluded that the firm violated federal securities laws in offerings of subprime and Alt-A residential mortgage securities during the period 2005 to 2007.

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In November 2016, JPJP Morgan Chase agreed to pay $264 million in fines to settle civil and criminal charges involving a systematic bribery scheme spanning 2006 to 2013 in which the bank secured business deals in Hong Kong by agreeing to hire hundreds of friends and relatives of Chinese government officials, resulting in more than $100 million in revenue for the bank.

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In 2010, Irving Picard, the SIPC receiver appointed to liquidate Madoff's company, alleged that JPJP Morgan failed to prevent Madoff from defrauding his customers.

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JP Morgan was dismissed by the Court for failing to set forth any legally cognizable claim for damages.

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Lawsuit, which was filed on behalf of shareholders against Chief Executive Jamie Dimon and other high-ranking JPJP Morgan employees, used statements made by Bernie Madoff during interviews conducted while in prison in Butner, North Carolina claiming that JPJP Morgan officials knew of the fraud.

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JPJP Morgan agreed to pay a $350 million fine to the Office of the Comptroller of the Currency and settle the suit filed against it by Picard for $543 million.

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In 2008, JPJP Morgan acquired the UK-based carbon offsetting company ClimateCare.

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In November 2009, JPJP Morgan announced it would acquire the balance of JPJP Morgan Cazenove, an advisory and underwriting joint venture established in 2004 with the Cazenove Group.

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In March 2022, JPJP Morgan announced that would acquire Global Shares, a cloud-based provider of share plan software management.

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In October 2014, JPJP Morgan sold its commodities trader unit to Mercuria for $800 million, a quarter of the initial valuation of $3.

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In March 2016, JPJP Morgan decided not to finance coal mines and coal power plants in wealthy countries.

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In December 2017, JP Morgan was sued by the Nigerian government for $875 million, which Nigeria alleges was transferred by JP Morgan to a corrupt former minister.

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In February 2019, JP Morgan announced the launch of JPM Coin, a digital token that will be used to settle transactions between clients of its wholesale payments business.

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In 2021, JP Morgan funded the failed attempt to create a European Super League in European soccer, which, if successful, would have ended the meritocratic European pyramid soccer system.

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In September 2021, JPJP Morgan Chase entered the UK retail banking market by launched an app-based current account under the Chase brand.

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In March 2022, JPJP Morgan Chase announced to wind down its business in Russia in compliance with regulatory and licensing requirements.

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JPJP Morgan Chase was the biggest bank at the end of 2008 as an individual bank .

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An office of JPJP Morgan was opened in Taiwan in 1970, in Russia in 1973, and Nordic operations began during the same year.

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JP Morgan's giving has been focused on Republicans, with 62 percent of its donations going to GOP recipients in 2014.

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In May 2022, JPJP Morgan Chase announced that they had committed a five-year $20 million commitment in support of summer youth employment programs across 24 cities in the United States.

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JPJP Morgan has come under criticism for investing in new fossil fuels projects since the Paris climate change agreement.

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JPJP Morgan subsequently distanced itself from the content of the study.

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In 2005, JPJP Morgan Chase acknowledged that its two predecessor banks had received ownership of thousands of slaves as collateral prior to the Civil War.

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JP Morgan apologized for contributing to the "brutal and unjust institution" of slavery.

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In 2018, JPJP Morgan announced they would demolish the current headquarters building at 270 Park Avenue, which was Union Carbide's former headquarters, to make way for a newer building at 270 Park Avenue that will be 681 feet taller than the previous building.

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In late 2017, JPJP Morgan Chase opened a new global operations center in Warsaw, Poland.

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Derivatives team at JPJP Morgan was a pioneer in the invention of credit derivatives such as the credit default swap.

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However, JPJP Morgan has been involved in European football for almost 20 years.

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