Content Section
POCKET CHANGE JPMorgan Agrees to Pay $153.6 Million Jamie Dimon, CEO of JP Morgan Chase. (Mark Lennihan / AP Photo)

JPMorgan Agrees to Pay $153.6 Million

JPMorgan Chase will pay $153.6 million in order to settle charges that it misled buyers of complex mortgage investments. The Securities and Exchange Commission said that all investors who were harmed will receive all of their money back as part of the settlement, but JPMorgan did not admit or deny any wrongdoing. Though the fine seems hefty (it's the second largest fine related to the housing bust ever), it’s actually less than what JPMorgan earns in a week, and smaller than 1 percent of the bank’s net income in 2010. The bank earned $17.4 billion last year.

June 21, 2011 4:07 PM