JPMorgan Regulatory Hits Mount

The hits just keep on coming for one of the few banks to emerge through the financial crisis intact: JPMorgan Chase. From the “London Whale” trading debacle to continuing mortgage woes, JPMorgan Chase faces a range of investigations and legal issues. It has set aside $6.8 billion to deal with prospective legal costs. It is facing six different investigations by the Justice Department and an inquiry by the SEC over anti-bribery violations in connection to its hiring practices in Hong Kong. These investigations come after the $410 million settlement with the Federal Energy Regulatory Commission over energy market manipulation. According to The Wall Street Journal, CEO Jamie Dimon, after taking a hard-nosed approach with regulators for years, is now bulking up compliance efforts.