44 Facts About JPMorgan Chase

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

JPMorgan Chase is considered to be a universal bank and a custodian bank.

The JPMorgan Chase brand is used for credit card services in the United States and Canada, and the bank's retail banking activities in the United States and United Kingdom.

JPMorgan Chase invested in the suppliers of war equipment to Britain and France.

JPMorgan Chase profited from the financing and purchasing activities of the two European governments.

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

On March 16, 2008, after a weekend of intense negotiations between JPMorgan, Bear, and the federal government, JPMorgan Chase announced its plans to acquire Bear Stearns in a stock swap worth $2.

On September 25, 2008, JPMorgan Chase bought most of the banking operations of Washington Mutual from the receivership of the Federal Deposit Insurance Corporation.

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

JPMorgan Chase had been chosen by the county commissioners to refinance the county's sewer debt, and the SEC had alleged that JPMorgan Chase 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.

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

An official stated that the situation was "grim" and JPMorgan Chase initially stated it would be refunding up to $2, 000, 000 to those who were overcharged, and that families improperly foreclosed on have gotten or will get their homes back.

JPMorgan Chase has acknowledged that as many as 6, 000 active duty military personnel were illegally overcharged, and more than 18 military families homes were wrongly foreclosed.

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

JPMorgan Chase 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.

On November 19, 2013, the Justice Department announced that JPMorgan Chase agreed to pay $13 billion to settle investigations into its business practices pertaining to mortgage-backed securities.

In November 2016, JPMorgan 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.

On December 26, 2018, as part of an investigation by the U S Securities and Exchange Commission into abusive practices related to American depositary receipts (ADRs), JPMorgan agreed to pay more than $135 million to settle charges of improper handling of "pre-released" ADRs without admitting or denying the SEC's findings.

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

However, JPMorgan Chase did not report its concerns to regulators or law enforcement until October 2008, when it notified the UK Serious Organised Crime Agency.

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

The lawsuit stated that "JPMorgan Chase was uniquely positioned for 20 years to see Madoff's crimes and put a stop to them.

JPMorgan Chase 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.

In 2008, JPMorgan Chase acquired the UK-based carbon offsetting company ClimateCare.

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

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

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

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

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

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

On May 20, 2022, JPMorgan Chase used blockchain for collateral settlements, the latest Wall Street experimentation with the technology in the trading of traditional financial assets.

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

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

JP Morgan JPMorgan Chase's PAC made maximum donations to the Democratic Congressional Campaign Committee and the leadership PACs of Steny Hoyer and Jim Himes in 2014.

In May 2022, JPMorgan 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.

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

JPMorgan Chase subsequently distanced itself from the content of the study.

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

JPMorgan Chase apologized for contributing to the "brutal and unjust institution" of slavery.

In 2018, JPMorgan Chase 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.

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

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

On September 18, 2013, JPMorgan Chase agreed to pay a total of $920 million in fines and penalties to American and UK regulators for violations related to the trading loss and other incidents.

However, JPMorgan Chase has been involved in European football for almost 20 years.