J.P. Morgan to beef up its risk and compliance division

The company has incurred higher legal fees and faced more sanctions than any other bank since 2008

J.P. Morgan Chase & Co.’s recent legal challenges almost makes Bernie Madoff look like Pope Benedict. Fraud? Check. Failed mortgages? Check. Bribery and falsifying bank records? Check and check.

J.P. Morgan is looking to clean up its act in a big way, and according to one recent Wall Street Journal (WSJ) report, the company’s compliance sector is about to receive a huge boost. The report says J.P. Morgan plans to spend an additional $4 billion and commit 5,000 extra employees to risk and compliance this year to clean up the company’s issues.

Assistant Editor

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Zach Warren

Zach Warren is Assistant Editor of InsideCounsel magazine, where he oversees online content submissions and administers InsideCounsel's enewsletters. Zach specializes in new media and multimedia...

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