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JPMorgan Chase & Co. has agreed to pay $153.6 million to settle civil fraud charges that it misled buyers of complex mortgage investments just as the housing market was collapsing; SEC stated that JPM failed to tell investors that a hedge fund helped select the investment portfolio and then bet that the portfolio would fail.
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US credit union regulator sues JPMorgan and RBS alleging "numerous misrepresentations" in the offering of mortgage-backed securities
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JPM's motion to withdraw reference granted - SIPL v Madoff case transferred to district court from bankruptcy court
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Article discussing New York Appellate Division, First Department recent decisions on preclusion of common law claims by the Martin Act - includes discussion of rulings in Assured Guaranty v. JPMIM and CMMF v. JPMIM
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mortgage problems still a drain on bank earnings...

Mortgage servicers (Including JPM Chase) must pay homeowners for any losses they accrued due to mistakes by the servicers on their loans, the Federal Reserve said in a release today.

This morning, JP Morgan CEO Jamie Dimon said it had set aside $1.1 billion to address mortgage servicing issues.

NEW YORK -(Dow Jones)- J.P. Morgan Chase & Co. (JPM) Chief Financial Officer Douglas Braunstein said regulatory action against mortgage companies will be taken as soon as later Wednesday.

Changes regulators will demand will be significant, Braunstein said during a conference call with reporters. Regulators will also "preserve the right to impose some additional fees and penalties."

JP Morgan CEO Jamie Dimon gets 1500% salary hike

New York Times on AFTRA securities lending program action: "JPMorgan accused of breaking its duty to clients."
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8 April 2011 - "Billionaire Len Blavatnik got counts reinstated in his lawsuit claiming JPMorgan Chase & Co. (JPM) lost 10 percent of the $1 billion it managed for him." Based on amended complaint, the court decided that claims for negligence and breach of fiduciary duty (that it had previously dismissed as duplicative of plaintiff CMMF's breach of contract claim) could go forward, as could claim of negligent misrepresentation and narrowed breach of contract claim.
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8 April 2011 - Reuters - CMMF v. JPMIM suit can go forward,
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5 April 2011 - Jamie Dimon says JPM will pay for foreclosure errors; “Some of the mistakes were egregious, and they're embarrassing,”
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JPMorgan in talks with SEC to settle investigation into marketing of mortgage-backed derivatives
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On 30 March 2011, Benard Madoff Bankruptcy Trustee Irving Picard opposed JPMorgan's motion to transfer proceedings from bankruptcy court to district court, stating "JPMC seeks refuge in this Court to escape the scrutiny of the Bankruptcy Court...it no doubt hopes to distance itself both from the thousands of victims of [Madoff's] scheme and from other wrongdoers...Yet there is no escaping the fact that JPMC was at the very center of Madoff's Ponzi Scheme."

The brief and related documents can be found on the case page for Picard v. JPMorgan Chase & Co.
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March 2011 - state AG's circulate proposed settlement
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24 January 2011 p Banks including JP Morgan have filed actions in U.K. courts on related municipal bond issues: “Italian municipalities, emboldened by Milan’s criminal trial of Deutsche Bank AG, Depfa Bank Plc, JPMorgan and UBS over allegedly fraudulent selling practices on swaps, are increasingly filing complaints at home to avoid losses on derivatives contracts. The banks are turning to U.K. courts, where they expect to get swifter and fairer judgments.”
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As of November 2010, Italian criminal trial on bond issue was ongoing
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JPM Chase halted over 50,000 foreclosure proceedings in fall 2010
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