{"id":4337,"date":"2020-11-24T17:41:43","date_gmt":"2020-11-24T17:41:43","guid":{"rendered":"https:\/\/www.futuresandoptions.gr\/en\/?p=4337"},"modified":"2020-11-24T17:41:45","modified_gmt":"2020-11-24T17:41:45","slug":"occ-assesses-250-million-civil-money-penalty-against-jpmorgan-chase-bank-n-a","status":"publish","type":"post","link":"https:\/\/www.futuresandoptions.gr\/en\/occ-assesses-250-million-civil-money-penalty-against-jpmorgan-chase-bank-n-a\/","title":{"rendered":"OCC Assesses $250 Million Civil Money Penalty Against JPMorgan Chase Bank, N.A."},"content":{"rendered":"\n<p>The Office of the Comptroller of the Currency (OCC) today assessed a $250 million civil money penalty against JPMorgan Chase Bank, N.A (JPM)<\/p>\n\n\n\n<p>The OCC took this action based on the bank\u2019s failure to maintain adequate internal controls and internal audit over its fiduciary business.<\/p>\n\n\n\n<p>The OCC found the bank\u2019s risk management practices were deficient and it lacked a sufficient framework to avoid conflicts of interest. These deficiencies constituted unsafe or unsound practices and resulted in a violation of 12 CFR 9.9, which requires a suitable audit over all significant fiduciary activities. JPMorgan Chase Bank has remediated the deficiencies that led to this action.<\/p>\n\n\n\n<p>The OCC penalty will be paid to the U.S. Treasury.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Related Link<\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.occ.gov\/static\/enforcement-actions\/ea2020-067.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Consent Order for the Assessment of a Civil Money Penalty&nbsp;<\/a>(PDF)<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The Office of the Comptroller of the Currency (OCC) today assessed a $250 million civil money penalty against JPMorgan Chase Bank, N.A (JPM)<\/p>\n","protected":false},"author":2,"featured_media":4338,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[1123,14,111,22],"tags":[1186,1185,644],"class_list":["post-4337","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finreg","category-financial-news","category-stocks-2","category-wall-street","tag-jpmorgan","tag-occ","tag-risk-management"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>OCC Assesses $250 Million Civil Money Penalty Against JPMorgan Chase Bank, N.A. -<\/title>\n<meta name=\"description\" content=\"The Office of the Comptroller of the Currency (OCC) today assessed a $250 million civil money penalty against JPMorgan Chase Bank, N.A (JPM)\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.futuresandoptions.gr\/en\/occ-assesses-250-million-civil-money-penalty-against-jpmorgan-chase-bank-n-a\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OCC Assesses $250 Million Civil Money Penalty Against JPMorgan Chase Bank, N.A. -\" \/>\n<meta property=\"og:description\" content=\"The Office of the Comptroller of the Currency (OCC) today assessed a $250 million civil money penalty against JPMorgan Chase Bank, N.A (JPM)\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.futuresandoptions.gr\/en\/occ-assesses-250-million-civil-money-penalty-against-jpmorgan-chase-bank-n-a\/\" \/>\n<meta property=\"og:site_name\" content=\"Futures and Options\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-24T17:41:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-11-24T17:41:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.futuresandoptions.gr\/en\/wp-content\/uploads\/2020\/11\/JPM-JPMorgan-Chase-Bank.png\" \/>\n\t<meta property=\"og:image:width\" content=\"400\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"pnik\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"pnik\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.futuresandoptions.gr\/en\/occ-assesses-250-million-civil-money-penalty-against-jpmorgan-chase-bank-n-a\/\",\"url\":\"https:\/\/www.futuresandoptions.gr\/en\/occ-assesses-250-million-civil-money-penalty-against-jpmorgan-chase-bank-n-a\/\",\"name\":\"OCC Assesses $250 Million Civil Money Penalty Against JPMorgan Chase Bank, N.A. -\",\"isPartOf\":{\"@id\":\"https:\/\/www.futuresandoptions.gr\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.futuresandoptions.gr\/en\/occ-assesses-250-million-civil-money-penalty-against-jpmorgan-chase-bank-n-a\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.futuresandoptions.gr\/en\/occ-assesses-250-million-civil-money-penalty-against-jpmorgan-chase-bank-n-a\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.futuresandoptions.gr\/en\/wp-content\/uploads\/2020\/11\/JPM-JPMorgan-Chase-Bank.png\",\"datePublished\":\"2020-11-24T17:41:43+00:00\",\"dateModified\":\"2020-11-24T17:41:45+00:00\",\"author\":{\"@id\":\"https:\/\/www.futuresandoptions.gr\/en\/#\/schema\/person\/e724181c2b6dddb5e6c826e406faac26\"},\"description\":\"The Office of the Comptroller of the Currency (OCC) today assessed a $250 million civil money penalty against JPMorgan Chase Bank, N.A (JPM)\",\"breadcrumb\":{\"@id\":\"https:\/\/www.futuresandoptions.gr\/en\/occ-assesses-250-million-civil-money-penalty-against-jpmorgan-chase-bank-n-a\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.futuresandoptions.gr\/en\/occ-assesses-250-million-civil-money-penalty-against-jpmorgan-chase-bank-n-a\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.futuresandoptions.gr\/en\/occ-assesses-250-million-civil-money-penalty-against-jpmorgan-chase-bank-n-a\/#primaryimage\",\"url\":\"https:\/\/www.futuresandoptions.gr\/en\/wp-content\/uploads\/2020\/11\/JPM-JPMorgan-Chase-Bank.png\",\"contentUrl\":\"https:\/\/www.futuresandoptions.gr\/en\/wp-content\/uploads\/2020\/11\/JPM-JPMorgan-Chase-Bank.png\",\"width\":400,\"height\":400,\"caption\":\"The Office of the Comptroller of the Currency (OCC) today assessed a $250 million civil money penalty against JPMorgan Chase Bank, N.A (JPM)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.futuresandoptions.gr\/en\/occ-assesses-250-million-civil-money-penalty-against-jpmorgan-chase-bank-n-a\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.futuresandoptions.gr\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"OCC Assesses $250 Million Civil Money Penalty Against JPMorgan Chase Bank, N.A.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.futuresandoptions.gr\/en\/#website\",\"url\":\"https:\/\/www.futuresandoptions.gr\/en\/\",\"name\":\"Futures and Options\",\"description\":\"Serving Intelligent Investors\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.futuresandoptions.gr\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.futuresandoptions.gr\/en\/#\/schema\/person\/e724181c2b6dddb5e6c826e406faac26\",\"name\":\"pnik\",\"url\":\"https:\/\/www.futuresandoptions.gr\/en\/author\/pnik\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"OCC Assesses $250 Million Civil Money Penalty Against JPMorgan Chase Bank, N.A. -","description":"The Office of the Comptroller of the Currency (OCC) today assessed a $250 million civil money penalty against JPMorgan Chase Bank, N.A (JPM)","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.futuresandoptions.gr\/en\/occ-assesses-250-million-civil-money-penalty-against-jpmorgan-chase-bank-n-a\/","og_locale":"en_US","og_type":"article","og_title":"OCC Assesses $250 Million Civil Money Penalty Against JPMorgan Chase Bank, N.A. -","og_description":"The Office of the Comptroller of the Currency (OCC) today assessed a $250 million civil money penalty against JPMorgan Chase Bank, N.A (JPM)","og_url":"https:\/\/www.futuresandoptions.gr\/en\/occ-assesses-250-million-civil-money-penalty-against-jpmorgan-chase-bank-n-a\/","og_site_name":"Futures and Options","article_published_time":"2020-11-24T17:41:43+00:00","article_modified_time":"2020-11-24T17:41:45+00:00","og_image":[{"width":400,"height":400,"url":"https:\/\/www.futuresandoptions.gr\/en\/wp-content\/uploads\/2020\/11\/JPM-JPMorgan-Chase-Bank.png","type":"image\/png"}],"author":"pnik","twitter_card":"summary_large_image","twitter_misc":{"Written by":"pnik","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.futuresandoptions.gr\/en\/occ-assesses-250-million-civil-money-penalty-against-jpmorgan-chase-bank-n-a\/","url":"https:\/\/www.futuresandoptions.gr\/en\/occ-assesses-250-million-civil-money-penalty-against-jpmorgan-chase-bank-n-a\/","name":"OCC Assesses $250 Million Civil Money Penalty Against JPMorgan Chase Bank, N.A. -","isPartOf":{"@id":"https:\/\/www.futuresandoptions.gr\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.futuresandoptions.gr\/en\/occ-assesses-250-million-civil-money-penalty-against-jpmorgan-chase-bank-n-a\/#primaryimage"},"image":{"@id":"https:\/\/www.futuresandoptions.gr\/en\/occ-assesses-250-million-civil-money-penalty-against-jpmorgan-chase-bank-n-a\/#primaryimage"},"thumbnailUrl":"https:\/\/www.futuresandoptions.gr\/en\/wp-content\/uploads\/2020\/11\/JPM-JPMorgan-Chase-Bank.png","datePublished":"2020-11-24T17:41:43+00:00","dateModified":"2020-11-24T17:41:45+00:00","author":{"@id":"https:\/\/www.futuresandoptions.gr\/en\/#\/schema\/person\/e724181c2b6dddb5e6c826e406faac26"},"description":"The Office of the Comptroller of the Currency (OCC) today assessed a $250 million civil money penalty against JPMorgan Chase Bank, N.A (JPM)","breadcrumb":{"@id":"https:\/\/www.futuresandoptions.gr\/en\/occ-assesses-250-million-civil-money-penalty-against-jpmorgan-chase-bank-n-a\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.futuresandoptions.gr\/en\/occ-assesses-250-million-civil-money-penalty-against-jpmorgan-chase-bank-n-a\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.futuresandoptions.gr\/en\/occ-assesses-250-million-civil-money-penalty-against-jpmorgan-chase-bank-n-a\/#primaryimage","url":"https:\/\/www.futuresandoptions.gr\/en\/wp-content\/uploads\/2020\/11\/JPM-JPMorgan-Chase-Bank.png","contentUrl":"https:\/\/www.futuresandoptions.gr\/en\/wp-content\/uploads\/2020\/11\/JPM-JPMorgan-Chase-Bank.png","width":400,"height":400,"caption":"The Office of the Comptroller of the Currency (OCC) today assessed a $250 million civil money penalty against JPMorgan Chase Bank, N.A (JPM)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.futuresandoptions.gr\/en\/occ-assesses-250-million-civil-money-penalty-against-jpmorgan-chase-bank-n-a\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.futuresandoptions.gr\/en\/"},{"@type":"ListItem","position":2,"name":"OCC Assesses $250 Million Civil Money Penalty Against JPMorgan Chase Bank, N.A."}]},{"@type":"WebSite","@id":"https:\/\/www.futuresandoptions.gr\/en\/#website","url":"https:\/\/www.futuresandoptions.gr\/en\/","name":"Futures and Options","description":"Serving Intelligent Investors","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.futuresandoptions.gr\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.futuresandoptions.gr\/en\/#\/schema\/person\/e724181c2b6dddb5e6c826e406faac26","name":"pnik","url":"https:\/\/www.futuresandoptions.gr\/en\/author\/pnik\/"}]}},"_links":{"self":[{"href":"https:\/\/www.futuresandoptions.gr\/en\/wp-json\/wp\/v2\/posts\/4337","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.futuresandoptions.gr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.futuresandoptions.gr\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.futuresandoptions.gr\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.futuresandoptions.gr\/en\/wp-json\/wp\/v2\/comments?post=4337"}],"version-history":[{"count":1,"href":"https:\/\/www.futuresandoptions.gr\/en\/wp-json\/wp\/v2\/posts\/4337\/revisions"}],"predecessor-version":[{"id":4339,"href":"https:\/\/www.futuresandoptions.gr\/en\/wp-json\/wp\/v2\/posts\/4337\/revisions\/4339"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.futuresandoptions.gr\/en\/wp-json\/wp\/v2\/media\/4338"}],"wp:attachment":[{"href":"https:\/\/www.futuresandoptions.gr\/en\/wp-json\/wp\/v2\/media?parent=4337"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.futuresandoptions.gr\/en\/wp-json\/wp\/v2\/categories?post=4337"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.futuresandoptions.gr\/en\/wp-json\/wp\/v2\/tags?post=4337"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}