33 Facts About JPMorgan

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.

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.

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

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

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, 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 failed to prevent Madoff from defrauding his customers.

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

JPMorgan 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 acquired the UK-based carbon offsetting company ClimateCare.

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

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

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

In March 2016, JPMorgan 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 was opened in Taiwan in 1970, in Russia in 1973, and Nordic operations began during the same year.

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.

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

JPMorgan 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.

In 2018, JPMorgan 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 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 has been involved in European football for almost 20 years.