View source for Company:JPMorgan Chase

{{Short description|American multinational financial services firm}}
{{Infobox company
| name = JPMorgan Chase & Co.
| logo = J P Morgan Chase Logo 2008 1.svg
| logo_size = 250px
| image = 383 Madison Ave Bear Stearns C R Flickr 1.jpg
| image_caption = JPMorgan Chase headquarters at 383 Madison Avenue in {{wipe|New York City}}
| type = [[Finance:Public company|Public]]
| traded_as = {{ubl|{{NYSE|JPM}}|DJIA component|S&P 100 component|S&P 500 component}}
| ISIN = {{ISIN|sl=n|pl=y|US46625H1005}}
| predecessors = {{Unbulleted list
   | Bank of the Manhattan Company (founded 1799)
   | Chemical Bank (founded 1824)
   | J.P. Morgan & Co. (founded 1871)
   | Chase National Bank (founded 1877)
   }}
| hq_location = 383 Madison Avenue<br />New York City, U.S.
| founded = {{Start date and age|2000|12|1}}<!--This article is about the company formed in 2000 following the merger of Chase Manhattan Corporation and J.P. Morgan & Co.-->
| founders = {{Unbulleted list
   | Aaron Burr <br>(Bank of the Manhattan Company)
   | Balthazar P. Melick <br>(Chemical Bank)
   | John Pierpont Morgan<br> (J.P. Morgan & Co.)
   | John Thompson <br>(Chase National Bank)
   }}
| area_served = Worldwide
| key_people = {{Unbulleted list
   | Jamie Dimon ([[Social:Chairperson|Chairman]] & [[Social:Chief executive officer|CEO]])
   | Daniel E. Pinto ([[Social:President (corporate title)|President]] & [[Social:Chief operating officer|COO]])
   }}
| industry = [[Finance:Financial services|Financial services]]
| products = {{hlist | [[Social:Asset management|Asset management]] | [[Finance:Banking|banking]] | commodities | [[Finance:Credit card|credit card]]s | equities trading | [[Finance:Insurance|insurance]] | [[Social:Investment management|investment management]] | [[Finance:Mortgage loan|mortgage loan]]s | mutual funds | exchange-traded funds | [[Finance:Index fund|index fund]]s | [[Finance:Private equity|private equity]] | [[Risk management|risk management]] | [[Finance:Wealth management|wealth management]] }}
| revenue = {{increase}} {{US$|128.7&nbsp;billion|link=yes}} (2022)
| net_income = {{decrease}} {{US$|37.68 billion}} (2022)
| aum = {{increase}} US$4.00&nbsp;trillion (2023)<ref>{{cite web|url=https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/quarterly-earnings/2023/3rd-quarter/dff65b34-7980-4e70-be70-1ff6d9466df4.pdf|title=in PDF on page 8 second table (Assets under management ("AUM"))|website=www.jpmorganchase.com}}</ref>
| assets = {{increase}} {{US$|3.89 trillion}} (2023)
| equity = {{decrease}} {{US$|292.3 billion}} (2022)
| num_employees = {{increase}} 308,669
| num_employees_year = 2023
| divisions = {{Indented plainlist|
* Asset and Wealth Management
* Consumer and Community Banking
* Commercial Banking
* Corporate and Investment Banking
}}
| subsid = {{Unbulleted list
 | Chase Bank
 | J.P. Morgan & Co.
 | One Equity Partners
 | [[Company:First Republic Bank|First Republic Bank]]
}}
| ratio = [[Finance:Tier 1 capital|Tier 1]] 15.9% (2023)
| website = {{URL|https://jpmorganchase.com}}
| footnotes =<ref name="FY">{{Cite web |title=J.P. Morgan Chase & Co. 2022 Form 10-K Annual Report |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/19617/000001961723000231/jpm-20221231.htm |date=February 21, 2023 |url-status=live |archive-url=https://web.archive.org/web/20230402080615/https://www.sec.gov/Archives/edgar/data/19617/000001961723000231/jpm-20221231.htm |archive-date=April 2, 2023 |access-date=May 9, 2023 |publisher=U.S. Securities and Exchange Commission}}</ref><ref name="auto">{{Cite web |title=JP Morgan Chase Annual Report 2022 |url=https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/annualreport-2022.pdf |url-status=live |archive-url=https://web.archive.org/web/20230404114753/https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/annualreport-2022.pdf |archive-date=April 4, 2023 |access-date=May 9, 2023 |website=JPMorgan Chase & Co.}}</ref><!--Do not delete or revert-->
}}

'''JPMorgan Chase & Co.''' is an American multinational [[Finance:Financial services|financial services]] firm headquartered in New York City and incorporated in Delaware. It is the largest bank in the United States and the world's [[Social:List of largest banks|largest bank by market capitalization]] as of 2023.<ref>{{Cite web |last=Goldberg |first=Matthew |title=These Are The 15 Largest Banks In The U.S. |url=https://www.bankrate.com/banking/biggest-banks-in-america/ |url-status=live |archive-url=https://web.archive.org/web/20221219090531/https://www.bankrate.com/banking/biggest-banks-in-america/ |archive-date=December 19, 2022 |access-date=January 8, 2023 |website=Bankrate |language=en-US}}</ref><ref>{{Cite web |last=Lee |first=Nathaniel |title=How Bank of America achieved a massive comeback from the brink of collapse |url=https://www.cnbc.com/2022/12/27/how-bofa-came-back-from-the-brink-of-collapse.html |url-status=live |archive-url=https://web.archive.org/web/20230108043810/https://www.cnbc.com/2022/12/27/how-bofa-came-back-from-the-brink-of-collapse.html |archive-date=January 8, 2023 |access-date=January 8, 2023 |website=CNBC |date=December 27, 2022 |language=en |quote=JPMorgan is still comfortably ahead as the largest bank in the U.S. based on total assets.}}</ref> As the largest of [[Finance:Big Four (banking)#United States|Big Four]] banks, the firm is considered [[Finance:Systemically important financial institution|systemically important]] by the [[Organization:Financial Stability Board|Financial Stability Board]]. Its size and scale have often led to enhanced regulatory oversight as well as the maintenance of an internal "Fortress Balance Sheet"<ref>{{Cite web |last=Hartman |first=Ashley |date=March 1, 2016 |title=JPMorgan Chase after the Financial Crisis: What Is the Optimal Scope of the Largest Bank in the U.S.? – Case – Faculty & Research – Harvard Business School |url=https://www.hbs.edu/faculty/Pages/item.aspx?num=50835 |url-status=live |archive-url=https://web.archive.org/web/20230108043813/https://www.hbs.edu/faculty/Pages/item.aspx?num=50835 |archive-date=January 8, 2023 |access-date=January 8, 2023 |website=www.hbs.edu}}</ref><ref>{{Cite web |last=Eavis |first=Peter |date=May 25, 2012 |title=The Dark Nooks in JPMorgan's Fortress Balance Sheet |url=https://dealbook.nytimes.com/2012/05/25/the-dark-nooks-in-jpmorgans-fortress-balance-sheet/ |url-status=live |archive-url=https://web.archive.org/web/20210926000134/https://dealbook.nytimes.com/2012/05/25/the-dark-nooks-in-jpmorgans-fortress-balance-sheet/ |archive-date=September 26, 2021 |access-date=January 8, 2023 |website=DealBook |language=en}}</ref> of [[Finance:Debt-to-equity ratio|capital reserves]]. The firm is headquartered at 383 Madison Avenue in Midtown Manhattan and is set to move into the under-construction JPMorgan Chase Building at 270 Park Avenue in 2025.

The firm's early history can be traced to 1799, with the founding of what became the Chase Manhattan Company. In 1871, J.P. Morgan & Co. was founded by J. P. Morgan who launched the House of Morgan on 23 Wall Street as a national purveyor of [[Finance:Commercial bank|commercial]], [[Finance:Investment banking|investment]], and [[Finance:Private banking|private banking]] services. The present company was formed after the two predecessor firms merged in 2000, creating a diversified [[Social:Holding company|holding entity]]. It is a major provider of investment banking services, through corporate advisory, [[Social:Mergers and acquisitions|mergers and acquisitions]], sales and trading, and public offerings. Their private banking franchise and asset management division are among [[Social:List of asset management firms|the world's largest]] in terms of total assets. Its retail banking and credit card offerings are provided via the Chase brand in the U.S. and United Kingdom.

With {{wipe|United States dollar}}{{Format price|3898333000000}} in total assets,<ref>{{Cite web |title=JPMorgan Chase & Co. 3rd Quarter Earnings 2023|url=https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/quarterly-earnings/2023/3rd-quarter/393bfa53-d214-4230-8539-860a409b2107.pdf|access-date=October 15, 2023 |website=JPMorgan Chase|language=en}}</ref> JPMorgan Chase is the [[Social:List of largest banks#By total assets|fifth-largest bank in the world]] by assets. The firm operates the [[Finance:List of investment banks#Largest full-service investment banks|largest investment bank]] in the world by revenue.<ref>{{Cite web |last=Gelsi |first=Steve |date=September 20, 2022 |title=JPMorgan, Goldman top fee tables again as Wall Street faces squeeze |url=https://www.fnlondon.com/articles/jpmorgan-goldman-top-fee-tables-again-as-wall-street-faces-squeeze-20220920 |url-status=live |archive-url=https://web.archive.org/web/20230109055614/https://www.fnlondon.com/articles/jpmorgan-goldman-top-fee-tables-again-as-wall-street-faces-squeeze-20220920 |archive-date=January 9, 2023 |access-date=January 9, 2023 |website=Financial News London |language=en-GB}}</ref><ref>{{Cite web |title=Leading banks by investment banking revenue 2022 |url=https://www.statista.com/statistics/371143/leading-global-investment-banks-by-revenue/ |url-status=live |archive-url=https://web.archive.org/web/20180330143459/https://www.statista.com/statistics/371143/leading-global-investment-banks-by-revenue/ |archive-date=March 30, 2018 |access-date=January 9, 2023 |website=Statista |language=en}}</ref> It occupies 24th place on the {{wipe|Fortune 500}} list of the largest U.S. corporations by revenue. In 2023, JPMorgan Chase was ranked #1 in Forbes' Global 2000 ranking.<ref>{{Cite web|lang=en|url=https://www.forbes.com/lists/global2000/?sh=659c92645ac0|title=The Global 2000|website={{wipe|Forbes}}|access-date=2024-01-29|archive-date=2024-01-25|archive-url=https://web.archive.org/web/20240125234015/https://gum.criteo.com/syncframe?origin=publishertag&topUrl=www.forbes.com}}</ref> 

The company has been party to a multitude of large-scale [[Social:Settlement (litigation)|legal settlements]] related to fraud and other criminal misconduct.

== History ==
[[File:JPMorgan Chase.svg|thumb|The JPMorgan Chase logo prior to the 2008 rebranding]]
[[File:J P Morgan Logo 2008 1.svg|thumb|As of June 2008, the JPMorgan logo used for the company's Investment Banking, Asset Management, and Treasury & Securities Services units<ref name="Robert Cameron TimesLogo">{{Cite news |last=de la Merced |first=Michael J. |date=June 16, 2008 |title=JPMorgan's Stately Old Logo Returns for Institutional Business |work=The New York Times |url=https://www.nytimes.com/2008/06/16/business/media/16bank.html?_r=1 |url-status=live |access-date=December 14, 2009 |archive-url=https://web.archive.org/web/20151017122540/http://www.nytimes.com/2008/06/16/business/media/16bank.html?_r=1 |archive-date=October 17, 2015}}</ref>]]

JPMorgan Chase, in its current structure, is the result of the combination of several large U.S. banking companies that merged since 1996, combining Chase Manhattan Bank, J.P. Morgan & Co., and Bank One, as well as asset assumptions of Bear Stearns, Washington Mutual, and [[Company:First Republic Bank|First Republic]]. Predecessors include additional historic, major banking firms, among which are Chemical Bank, Manufacturers Hanover, First Chicago Bank, National Bank of Detroit, Texas Commerce Bank, Providian Financial and Great Western Bank. The company's oldest predecessor institution, The Bank of the Manhattan Company, was the third oldest banking corporation in the United States, and the 31st oldest bank in the world, having been established on September 1, 1799, by Aaron Burr.<ref>{{Cite web |title=History of Our Firm |url=https://www.jpmorganchase.com/about/our-history |url-status=live |archive-url=https://web.archive.org/web/20220523040928/https://www.jpmorganchase.com/about/our-history |archive-date=May 23, 2022 |access-date=May 23, 2022 |website=JPMorgan Chase |language=en}}</ref>

=== Chase Manhattan Bank ===

[[File:Chase logo pre historical.jpg|thumb|The logo used by Chase following the merger with the Manhattan Bank in 1954]]

The Chase Manhattan Bank was formed upon the 1955 purchase of Chase National Bank (established in 1877) by The Bank of the Manhattan Company (established in 1799),<ref>{{Cite web |year=2008 |title=The History of J.P. Morgan Chase & Company |url=http://www.jpmorganchase.com/corporate/About-JPMC/document/shorthistory.pdf |url-status=dead |archive-url=https://web.archive.org/web/20110927133631/http://www.jpmorganchase.com/corporate/About-JPMC/document/shorthistory.pdf |archive-date=September 27, 2011 |access-date=March 6, 2018}}</ref> the company's oldest predecessor institution. The Bank of the Manhattan Company was the creation of Aaron Burr, who transformed the company from a water carrier into a bank.<ref>{{Cite news |last=Schulz |first=Bill |date=July 29, 2016 |title=Hamilton, Burr and the Great Waterworks Ruse |language=en-US |work=The New York Times |url=https://www.nytimes.com/2016/07/31/nyregion/hamilton-burr-and-the-great-waterworks-ruse.html |url-status=live |access-date=October 30, 2019 |archive-url=https://web.archive.org/web/20201111225413/https://www.nytimes.com/2016/07/31/nyregion/hamilton-burr-and-the-great-waterworks-ruse.html |archive-date=November 11, 2020 |issn=0362-4331}}</ref>

According to page 115 of ''An Empire of Wealth'' by John Steele Gordon, the origin of this strand of JPMorgan Chase's history runs as follows:

<blockquote>At the turn of the nineteenth century, obtaining a bank charter required an act of the state legislature. This, of course, injected a powerful element of politics into the process and invited what today would be called corruption but then was regarded as business as usual. Hamilton's political enemy—and eventual murderer—Aaron Burr was able to create a bank by sneaking a clause into a charter for a company called The Manhattan Company to provide clean water to New York City. The innocuous-looking clause allowed the company to invest surplus capital in any lawful enterprise. Within six months of the company's creation, and long before it had laid a single section of water pipe, the company opened a bank, the Bank of the Manhattan Company. Still in existence, it is today JPMorgan Chase, the largest bank in the United States.<ref>{{Cite book |last=Gordon |first=John Steele |url=https://www.worldcat.org/oclc/56668529 |title=An Empire of Wealth: The Epic History of American Economic Power |publisher=HarperCollins |year=2004 |isbn=0-06-009362-5 |edition=1st |location=New York |page=115 |oclc=56668529 |}}</ref></blockquote>

Led by David Rockefeller during the 1970s and 1980s, Chase Manhattan emerged as one of the largest and most prestigious banks, with leadership positions in [[Finance:Syndicated loan|syndicated lending]], treasury and securities services, [[Finance:Credit card|credit card]]s, [[Finance:Mortgage loan|mortgages]], and retail financial services. Weakened by the real estate collapse in the early 1990s, it was acquired by Chemical Bank in 1996, retaining the Chase name.<ref name="Hansell 1995" /><ref name="Hansell 1996" /> Before its merger with J.P. Morgan & Co., the new Chase expanded the investment and asset management groups through two acquisitions. In 1999, it acquired {{wipe|San Francisco}}–based Hambrecht & Quist for $1.35&nbsp;billion.<ref>{{Cite news |last1=Kahn |first1=Joseph |last2=McGeehan |first2=Patrick |date=September 29, 1999 |title=Chase Agrees to Acquire Hambrecht & Quist |language=en-US |work=The New York Times |url=https://www.nytimes.com/1999/09/29/business/chase-agrees-to-acquire-hambrecht-quist.html |url-status=live |access-date=October 30, 2019 |archive-url=https://web.archive.org/web/20200911124744/https://www.nytimes.com/1999/09/29/business/chase-agrees-to-acquire-hambrecht-quist.html |archive-date=September 11, 2020 |issn=0362-4331}}</ref> In April 2000, UK-based Robert Fleming & Co. was purchased by the new Chase Manhattan Bank for $7.7&nbsp;billion.<ref>{{Cite news |last=Journal |first=Michael R. SesitStaff Reporter of The Wall Street |date=April 12, 2000 |title=Chase to Acquire Robert Fleming In $7.73 Billion Stock-Cash Deal |language=en-US |work={{wipe|The Wall Street Journal}} |url=https://www.wsj.com/articles/SB955444046817267542 |url-status=live |access-date=October 30, 2019 |archive-url=https://web.archive.org/web/20200802171649/https://www.wsj.com/articles/SB955444046817267542 |archive-date=August 2, 2020 |issn=0099-9660}}</ref>

=== Chemical Banking Corporation ===
The New York Chemical Manufacturing Company was founded in 1823 as a maker of various chemicals. In 1824, the company amended its [[Finance:Charter|charter]] to perform banking activities and created the Chemical Bank of New York. After 1851, the bank was separated from its parent and grew organically and through a series of mergers, most notably with Corn Exchange Bank in 1954, Texas Commerce Bank (a large bank in Texas) in 1986, and Manufacturer's Hanover Trust Company in 1991 (the first major bank merger "among equals"). In the 1980s and early 1990s, Chemical emerged as one of the leaders in the financing of [[Finance:Leveraged buyout|leveraged buyout]] transactions. In 1984, Chemical launched Chemical Venture Partners to invest in [[Finance:Private equity|private equity]] transactions alongside various [[Finance:Financial sponsor|financial sponsor]]s. By the late 1980s, Chemical developed its reputation for financing buyouts, building a syndicated leveraged finance business and related advisory businesses under the auspices of the pioneering investment banker, Jimmy Lee.<ref>[http://www.businessweek.com/archives/1997/b3522103.arc.htm Jimmy Lee's Global Chase] {{webarchive|url=https://web.archive.org/web/20110628221303/http://www.businessweek.com/archives/1997/b3522103.arc.htm |date=June 28, 2011 }}. ''{{wipe|The New York Times}}'', April 14, 1997</ref><ref>[https://www.nytimes.com/1995/08/11/business/kingpin-of-the-big-time-loan.html Kingpin of the Big-Time Loan] {{Webarchive|url=https://web.archive.org/web/20200904003053/https://www.nytimes.com/1995/08/11/business/kingpin-of-the-big-time-loan.html |date=September 4, 2020 }}. ''The New York Times'', August 11, 1995</ref> At many points throughout this history, Chemical Bank was the largest bank in the United States (either in terms of assets or [[Finance:Deposit market share|deposit market share]]).{{citation needed|date=March 2022}}

In 1996, Chemical Bank acquired Chase Manhattan. Although Chemical was the nominal survivor, it took the better-known Chase name.<ref name="Hansell 1995">{{Cite news |last=Hansell |first=Saul |date=August 29, 1995 |title=Banking's New Giant: The Deal; Chase and Chemical Agree to Merge in $10 Billion Deal Creating Largest U.s. Bank |language=en-US |work=The New York Times |url=https://www.nytimes.com/1995/08/29/us/banking-s-new-giant-deal-chase-chemical-agree-merge-10-billion-deal-creating.html |url-status=live |access-date=October 30, 2019 |archive-url=https://web.archive.org/web/20201123203155/https://www.nytimes.com/1995/08/29/us/banking-s-new-giant-deal-chase-chemical-agree-merge-10-billion-deal-creating.html |archive-date=November 23, 2020 |issn=0362-4331}}</ref><ref name="Hansell 1996">{{Cite news |last=Hansell |first=Saul |date=September 3, 1996 |title=After Chemical Merger, Chase Promotes Itself as a Nimble Bank Giant |language=en-US |work=The New York Times |url=https://www.nytimes.com/1996/09/03/business/after-chemical-merger-chase-promotes-itself-as-a-nimble-bank-giant.html |url-status=live |access-date=October 30, 2019 |archive-url=https://web.archive.org/web/20200907054622/https://www.nytimes.com/1996/09/03/business/after-chemical-merger-chase-promotes-itself-as-a-nimble-bank-giant.html |archive-date=September 7, 2020 |issn=0362-4331}}</ref> To this day, JPMorgan Chase retains Chemical's pre-1996 stock price history, as well as Chemical's former headquarters site at 270 Park Avenue (the current building was demolished and a larger replacement headquarters is being built on the same site).

=== J.P. Morgan and Company ===
[[File:JP Morgan logo.jpg|thumb|The J.P. Morgan & Co. logo before its merger with Chase Manhattan Bank in 2000]]
[[File:Banking Influence in Large Corporations, 1914.jpg|thumb|Influence of J.P. Morgan in Large Corporations, 1914]]
[[File:Wallstreetbmb.jpg|thumb|The J.P. Morgan headquarters in New York City following the September 16, 1920, bomb explosion that took the lives of 38 people and injured over 400 more]]

The House of Morgan was born out of the partnership of Drexel, Morgan & Co., which in 1895 was renamed J.P. Morgan & Co. (see also: J. Pierpont Morgan).<ref name="Encyclopedia Britannica">{{Cite web |title=JPMorgan Chase & Co. {{!}} American bank |url=https://www.britannica.com/topic/JPMorgan-Chase-and-Co |url-status=live |archive-url=https://web.archive.org/web/20210126003910/https://www.britannica.com/topic/JPMorgan-Chase-and-Co |archive-date=January 26, 2021 |access-date=February 10, 2020 |website=Encyclopedia Britannica |language=en}}</ref> J.P. Morgan & Co. financed the formation of the United States Steel Corporation, which took over the business of Andrew Carnegie and others and was the world's first billion dollar corporation.<ref>{{Cite web |last=McCreary |first=Matthew |date=August 14, 2018 |title=How Andrew Carnegie Went From $1.20 a Week to $309 Billion ... Then Gave It All Away |url=https://www.entrepreneur.com/article/317827 |url-status=live |archive-url=https://web.archive.org/web/20201201083324/https://www.entrepreneur.com/article/317827 |archive-date=December 1, 2020 |access-date=February 10, 2020 |website=Entrepreneur |language=en}}</ref> In 1895, J.P. Morgan & Co. supplied the United States government with $62&nbsp;million in gold to float a bond issue and restore the treasury surplus of $100&nbsp;million.<ref>{{Cite web |last=Wile |first=Rob |title=The True Story Of The Time JP Morgan Saved America From Default By Using An Obscure Coin Loophole |url=https://www.businessinsider.com/morgan-1895-crisis-and-1862-gold-loophole-2013-1 |url-status=live |archive-url=https://web.archive.org/web/20201107220729/https://www.businessinsider.com/morgan-1895-crisis-and-1862-gold-loophole-2013-1 |archive-date=November 7, 2020 |access-date=February 10, 2020 |website=Business Insider}}</ref> In 1892, the company began to finance the New York, New Haven and Hartford Railroad and led it through a series of acquisitions that made it the dominant railroad transporter in New England.<ref>{{Cite web |last=Grant |first=Peter |title=J.P. Morgan and the Panic of 1907: How one financier proved mightier than Wall Street |url=https://www.nydailynews.com/new-york/panic-1907-p-morgan-proved-mightier-wall-st-article-1.798835 |url-status=live |archive-url=https://web.archive.org/web/20210208024136/https://www.nydailynews.com/new-york/panic-1907-p-morgan-proved-mightier-wall-st-article-1.798835 |archive-date=February 8, 2021 |access-date=February 10, 2020 |website=nydailynews.com|date=August 14, 2017 }}</ref>

Built in 1914, 23 Wall Street was the bank's headquarters for decades.<ref>{{Cite news |date=February 20, 1912 |title=The Real Estate Field; J.P. Morgan & Co. Reported to Have Bought Drexel Building Corner – Sixth Avenue Activity – Reade Street Loft Sold – West Side Deals – Good Bronx and Suburban Markets. |language=en-US |work={{wipe|The New York Times}} |url=https://www.nytimes.com/1912/02/20/archives/the-real-estate-field-jp-morgan-co-reported-to-have-bought-drexel.html |url-status=live |access-date=September 16, 2020 |archive-url=https://web.archive.org/web/20210209121728/https://www.nytimes.com/1912/02/20/archives/the-real-estate-field-jp-morgan-co-reported-to-have-bought-drexel.html |archive-date=February 9, 2021 |issn=0362-4331}}</ref> On September 16, 1920, a terrorist bomb exploded in front of the bank, injuring 400 and killing 38.<ref>{{Cite news |date=September 16, 2014 |title=The Wall Street Bombing: Low-Tech Terrorism in Prohibition-Era New York |language=en-US |work=Slate |url=http://www.slate.com/blogs/atlas_obscura/2014/09/16/the_1920_wall_st_bombing_a_terrorist_attack_on_new_york.html |url-status=live |access-date=February 10, 2020 |archive-url=https://web.archive.org/web/20201108125132/http://www.slate.com/blogs/atlas_obscura/2014/09/16/the_1920_wall_st_bombing_a_terrorist_attack_on_new_york.html |archive-date=November 8, 2020 |issn=1091-2339}}</ref> Shortly before the bomb went off, a warning note was placed in a mailbox at the corner of Cedar Street and Broadway. The case has never been solved, and was rendered inactive by the FBI in 1940.<ref>{{Cite web |title=Wall Street bombing of 1920 {{!}} Facts, Theories, & Suspects |url=https://www.britannica.com/event/Wall-Street-bombing-of-1920 |url-status=live |archive-url=https://web.archive.org/web/20201101045701/https://www.britannica.com/event/Wall-Street-bombing-of-1920 |archive-date=November 1, 2020 |access-date=February 10, 2020 |website=Encyclopedia Britannica |language=en}}</ref>

In August 1914, Henry P. Davison, a Morgan partner, made a deal with the Bank of England to make J.P. Morgan & Co. the monopoly underwriter of war bonds for the UK and France. The Bank of England became a "[[Finance:Fiscal agent|fiscal agent]]" of J.P. Morgan & Co., and vice versa.<ref name="Ludwig von Mises Institute">{{Cite book |url=https://books.google.com/books?id=0M93iTZW6uQC&q=JP+morgan+deal+with+the+Bank+of+England+monopoly+underwriter+of+war+bonds+for+the+UK+and+France&pg=PA18 |title=Wall Street, Banks, and American Foreign Policy |publisher=Ludwig von Mises Institute |isbn=978-1-61016-308-8 |language=en |access-date=October 19, 2020 |archive-url=https://web.archive.org/web/20210208022027/https://books.google.com/books?id=0M93iTZW6uQC&q=JP+morgan+deal+with+the+Bank+of+England+monopoly+underwriter+of+war+bonds+for+the+UK+and+France&pg=PA18 |archive-date=February 8, 2021 |url-status=live}}</ref> The company also invested in the suppliers of war equipment to Britain and France. The company profited from the financing and purchasing activities of the two European governments.<ref name="Ludwig von Mises Institute" /> Since the U.S. federal government withdrew from world affairs under successive isolationist Republican administrations in the 1920s, J.P. Morgan & Co. continued playing a major role in global affairs since most European countries still owed war debts.<ref>{{Cite book |last=Steiner |first=Zara |url=https://www.worldcat.org/oclc/86068902 |title=The lights that failed : European international history, 1919–1933 |date=2005 |publisher=Oxford University Press |isbn=978-0-19-151881-2 |location=Oxford |oclc=86068902 |access-date=October 9, 2021 |archive-url=https://web.archive.org/web/20211006194701/https://www.worldcat.org/title/lights-that-failed-european-international-history-1919-1933/oclc/86068902 |archive-date=October 6, 2021 |url-status=live}}</ref>

In the 1930s, J.P. Morgan & Co. and all integrated banking businesses in the United States were required by the provisions of the Glass–Steagall Act to separate their [[Finance:Investment banking|investment banking]] from their commercial banking operations. J.P. Morgan & Co. chose to operate as a commercial bank.<ref>{{cite web| url=https://www.investopedia.com/articles/03/071603.asp| title=Glass-Steagall Act of 1933: Definition, Effects, and Repeal| author=Heakal, Reem| date=March 27, 2023}}</ref>

In 1935, after being barred from the securities business for over a year, the heads of J.P. Morgan spun off its investment-banking operations. Led by J.P. Morgan partners, Henry S. Morgan (son of Jack Morgan and grandson of J. Pierpont Morgan) and Harold Stanley, Morgan Stanley was founded on September 16, 1935, with $6.6&nbsp;million of nonvoting preferred stock from J.P. Morgan partners.{{Better source needed|date=February 2020}} To bolster its position, in 1959, J.P. Morgan merged with the Guaranty Trust Company of New York to form the Morgan Guaranty Trust Company.<ref name="Encyclopedia Britannica" /> The bank would continue to operate as Morgan Guaranty Trust until the 1980s, before migrating back to the use of the J.P. Morgan brand. In 1984, the group purchased the Purdue National Corporation of Lafayette, {{wipe|Indiana}}. In 1988, the company once again began operating exclusively as J.P. Morgan & Co.<ref>{{Cite news |last=Journal |first=Michael Siconolfi and Anita RaghavanStaff Reporters of The Wall Street |date=February 6, 1997 |title=Securities Firms' Names Seem Anything but Firm |language=en-US |work={{wipe|The Wall Street Journal}} |url=https://www.wsj.com/articles/SB85517960994101500 |url-status=live |access-date=February 10, 2020 |archive-url=https://web.archive.org/web/20200802234000/https://www.wsj.com/articles/SB85517960994101500 |archive-date=August 2, 2020 |issn=0099-9660}}</ref>

The Bank began operations in {{wipe|Japan}} in 1924,<ref>[http://www.jpmorgan.co.jp/e_index.php "JPMorgan (Japan)"] {{webarchive|url=https://web.archive.org/web/20120622000151/http://www.jpmorgan.co.jp/e_index.php|date=June 22, 2012}}. Retrieved June 8, 2012.</ref> in {{wipe|Australia}} during the later part of the nineteenth century,<ref>[http://www.jpmorgan.com/pages/jpmorgan/au/home "Australia & New Zealand"] {{Webarchive|url=https://web.archive.org/web/20160110132652/https://www.jpmorgan.com/pages/jpmorgan/au/home|date=January 10, 2016}}. JPMorgan Chase. Retrieved June 8, 2012.</ref> and in Indonesia during the early 1920s.<ref>[http://www.jpmorgan.com/pages/jpmorgan/ap/indonesia "Indonesia"] {{Webarchive|url=https://web.archive.org/web/20150417003044/https://www.jpmorgan.com/pages/jpmorgan/ap/indonesia|date=April 17, 2015}}. JPMorgan Chase. Retrieved June 8, 2012.</ref> An office of the Equitable Eastern Banking Corporation (one of J.P. Morgan's predecessors) opened a branch in {{wipe|China}} in 1921 and Chase National Bank was established there in 1923.<ref>[http://www.jpmorganchina.com.cn/pages/jpmorgan/china/eng/home "History in China"] {{Webarchive|url=https://web.archive.org/web/20151017122541/http://www.jpmorganchina.com.cn/pages/jpmorgan/china/eng/home|date=October 17, 2015}}. JPMorgan Chase. Retrieved June 8, 2012.</ref> The bank has operated in Saudi Arabia<ref>[https://www.jpmorgan.com/pages/jpmorgan/emea/local/mena/saudi "J.P. Morgan in Saudi Arabia"] {{Webarchive|url=https://web.archive.org/web/20160105073828/https://www.jpmorgan.com/pages/jpmorgan/emea/local/mena/saudi|date=January 5, 2016}}. Retrieved June 8, 2012.</ref> and {{wipe|India}}<ref>[http://www.info2india.com/finance/banks/foreign-banks/jpmorgan-chase-bank.html "JPMorgan Chase Bank"] {{Webarchive|url=https://web.archive.org/web/20120625070329/http://www.info2india.com/finance/banks/foreign-banks/jpmorgan-chase-bank.html|date=June 25, 2012}}. info2india. Retrieved June 8, 2012.</ref> since the 1930s. Chase Manhattan Bank opened an office in {{wipe|South Korea}} in 1967.<ref>[https://www.jpmorgan.com/pages/jpmorgan/korea/eng/home "History in Korea"] {{Webarchive|url=https://web.archive.org/web/20160105073828/https://www.jpmorgan.com/pages/jpmorgan/korea/eng/home|date=January 5, 2016}}. JPMorgan Chase. Retrieved June 8, 2012.</ref> The firm's presence in Greece dates to 1968.<ref name="ceemea">[http://www.jpmorgan.com/pages/jpmorgan/emea/local/ceemea "Central & Eastern Europe"] {{Webarchive|url=https://web.archive.org/web/20151017122541/https://www.jpmorgan.com/pages/jpmorgan/emea/local/ceemea|date=October 17, 2015}}. JPMorgan Chase. Retrieved June 8, 2012.</ref> An office of JPMorgan was opened in Taiwan in 1970,<ref>[http://www.jpmorgan.com/pages/jpmorgan/ap/taiwan/eng "Taiwan"] {{Webarchive|url=https://web.archive.org/web/20120505024718/http://www.jpmorgan.com/pages/jpmorgan/ap/taiwan/eng|date=May 5, 2012}}. JPMorgan Chase. Retrieved June 8, 2012.</ref> in {{wipe|Russia}} ([[Place:Soviet Union|Soviet Union]]) in 1973,<ref>[http://www.jpmorgan.ru/pages/jpmorgan/russia/en/home "J.P. Morgan in Russia"] {{Webarchive|url=https://web.archive.org/web/20151017122541/http://www.jpmorgan.ru/pages/jpmorgan/russia/en/home|date=October 17, 2015}}. JPMorgan Chase. Retrieved June 8, 2012.</ref> and [[Place:Nordic countries|Nordic]] operations began during the same year.<ref>[http://www.jpmorgan.com/pages/jpmorgan/emea/local/nordic "Nordic Region"] {{Webarchive|url=https://web.archive.org/web/20150907185323/https://www.jpmorgan.com/pages/jpmorgan/emea/local/nordic|date=September 7, 2015}}. JPMorgan Chase. Retrieved July 7, 2012.</ref> Operations in Poland began in 1995.<ref name="ceemea" />

=== Bank One Corporation ===
[[File:Bank One logo.png|thumb|Logo of Bank One]]
In 2004, JPMorgan Chase merged with Chicago-based Bank One Corp., bringing on board current chairman and CEO Jamie Dimon as president and COO.<ref>{{Cite web |title=J.P. Morgan to buy Bank One for $58 billion – Jan. 15, 2004 |url=https://money.cnn.com/2004/01/14/news/deals/jpmorgan_bankone/ |url-status=live |archive-url=https://web.archive.org/web/20160119014924/http://money.cnn.com/2004/01/14/news/deals/jpmorgan_bankone/ |archive-date=January 19, 2016 |access-date=February 10, 2020 |website=money.cnn.com}}</ref> He succeeded former CEO William B. Harrison Jr.<ref>{{Cite news |last1=Sorkin |first1=Andrew Ross |last2=Thomas |first2=Landon Jr. |date=January 14, 2004 |title=J.P. Morgan Chase to Acquire Bank One in $58 Billion Deal |language=en-US |work=The New York Times |url=https://www.nytimes.com/2004/01/14/business/jp-morgan-chase-to-acquire-bank-one-in-58-billion-deal.html |url-status=live |access-date=October 30, 2019 |archive-url=https://web.archive.org/web/20201118095530/https://www.nytimes.com/2004/01/14/business/jp-morgan-chase-to-acquire-bank-one-in-58-billion-deal.html |archive-date=November 18, 2020 |issn=0362-4331}}</ref> Dimon introduced new cost-cutting strategies, and replaced former JPMorgan Chase executives in key positions with Bank One executives—many of whom were with Dimon at [[Company:Citigroup|Citigroup]]. Dimon became CEO in December 2005 and chairman in December 2006.<ref>{{Cite web |title=JPMorgan Chase's Jamie Dimon Says He Has Curable Cancer |url=https://www.nbcnews.com/business/business-news/jpmorgan-chases-jamie-dimon-says-he-has-curable-cancer-n146011 |url-status=live |archive-url=https://web.archive.org/web/20201106055205/https://www.nbcnews.com/business/business-news/jpmorgan-chases-jamie-dimon-says-he-has-curable-cancer-n146011 |archive-date=November 6, 2020 |access-date=October 30, 2019 |website=NBC News |date=July 2014 |language=en}}</ref> Bank One Corporation was formed with the 1998 merger of Banc One of Columbus, Ohio and First Chicago NBD.<ref>{{Cite web |title=Bank One {{!}} American company |url=https://www.britannica.com/topic/Bank-One |url-status=live |archive-url=https://web.archive.org/web/20201029133828/https://www.britannica.com/topic/Bank-One |archive-date=October 29, 2020 |access-date=February 10, 2020 |website=Encyclopedia Britannica |language=en}}</ref> This merger was considered a failure until Dimon took over and reformed the new firm's practices. Dimon effected changes to make Bank One Corporation a viable merger partner for JPMorgan Chase.<ref>{{Cite web |date=May 20, 2019 |title=Coming up big: How Dimon turned JPMorgan Chase into a banking colossus |url=https://www.crainsnewyork.com/features/coming-big-how-dimon-turned-jpmorgan-chase-banking-colossus |url-status=live |archive-url=https://web.archive.org/web/20200917175710/https://www.crainsnewyork.com/features/coming-big-how-dimon-turned-jpmorgan-chase-banking-colossus |archive-date=September 17, 2020 |access-date=February 10, 2020 |website=Crain's New York Business |language=en}}</ref>

Bank One Corporation, formerly First Bancgroup of Ohio, was founded as a holding company for City National Bank of Columbus, Ohio, and several other banks in that state, all of which were renamed "Bank One" when the holding company was renamed Banc One Corporation.<ref name="Hammer">{{Cite news |last=Hammer |first=Alexander R. |date=February 28, 1974 |title=First Banc Group Set to Acquire First National Bank of Toledo |language=en-US |work=The New York Times |url=https://www.nytimes.com/1974/02/28/archives/first-banc-group-set-to-acquire-first-national-bank-of-toledo.html |url-status=live |access-date=February 10, 2020 |archive-url=https://web.archive.org/web/20200820074830/https://www.nytimes.com/1974/02/28/archives/first-banc-group-set-to-acquire-first-national-bank-of-toledo.html |archive-date=August 20, 2020 |issn=0362-4331}}</ref> With the beginning of interstate banking they spread into other states, always renaming acquired banks "Bank One." After the First Chicago NBD merger, adverse financial results led to the departure of CEO John B. McCoy, whose father and grandfather had headed Banc One and predecessors. JPMorgan Chase completed the acquisition of Bank One in the third quarter of 2004.<ref name="Hammer" />

=== Bear Stearns ===
[[File:Bear Stearns Logo.svg|thumb|The Bear Stearns logo]]
At the end of 2007, Bear Stearns was the fifth largest investment bank in the United States but its [[Social:Market capitalization|market capitalization]] had deteriorated through the second half of the year.<ref name="Tracy 2018">{{Cite news |last=Tracy |first=Justin Baer and Ryan |date=March 13, 2018 |title=Ten Years After the Bear Stearns Bailout, Nobody Thinks It Would Happen Again |language=en-US |work={{wipe|The Wall Street Journal}} |url=https://www.wsj.com/articles/ten-years-after-the-bear-stearns-bailout-nobody-thinks-it-would-happen-again-1520959233 |url-status=live |access-date=February 10, 2020 |archive-url=https://web.archive.org/web/20210120210130/https://www.wsj.com/articles/ten-years-after-the-bear-stearns-bailout-nobody-thinks-it-would-happen-again-1520959233 |archive-date=January 20, 2021 |issn=0099-9660}}</ref> On Friday, March 14, 2008, Bear Stearns lost 47% of its equity market value as rumors emerged that clients were withdrawing capital from the bank. Over the following weekend, it emerged that Bear Stearns might prove insolvent, and on March 15, 2008, the Federal Reserve engineered a deal to prevent a wider systemic crisis from the collapse of Bear Stearns.<ref name="CNBC.com 2008">{{Cite web |last=CNBC.com |date=March 14, 2008 |title=Bear Stearns Gets Bailout From the Federal Reserve |url=https://www.cnbc.com/id/23630235 |url-status=live |archive-url=https://web.archive.org/web/20210126134655/https://www.cnbc.com/id/23630235 |archive-date=January 26, 2021 |access-date=February 10, 2020 |website=www.cnbc.com}}</ref>

On March 16, 2008, after a weekend of intense negotiations between JPMorgan, Bear, and the federal government, JPMorgan Chase announced its plans to acquire Bear Stearns in a [[Finance:Stock swap|stock swap]] worth $2.00 per share or $240&nbsp;million pending shareholder approval scheduled within 90 days.<ref name="CNBC.com 2008" /> In the interim, JPMorgan Chase agreed to guarantee all Bear Stearns trades and business process flows.<ref>{{Cite web |last=Guerrera |first=Francesco |date=March 16, 2008 |title=Bear races to forge deal with JPMorgan |url=http://www.ft.com/cms/s/e2206ed2-f380-11dc-b6bc-0000779fd2ac.html |url-status=live |archive-url=https://web.archive.org/web/20080321202901/http://www.ft.com/cms/s/e2206ed2-f380-11dc-b6bc-0000779fd2ac.html |archive-date=March 21, 2008 |access-date=March 16, 2008 |website=Financial Times}}</ref> On March 18, 2008, JPMorgan Chase formally announced the acquisition of Bear Stearns for $236&nbsp;million.<ref name="Tracy 2018" /> The stock swap agreement was signed that night.<ref>{{Cite news |last=Quinn |first=James |date=March 19, 2008 |title=JPMorgan Chase bags bargain Bear Stearns |work=The Daily Telegraph |location=London |url=https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/2786381/JP-Morgan-Chase-bags-bargain-Bear-Stearns.html |url-status=live |url-access=subscription |access-date=June 24, 2014 |archive-url=https://ghostarchive.org/archive/20220111/https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/2786381/JP-Morgan-Chase-bags-bargain-Bear-Stearns.html |archive-date=January 11, 2022}}{{cbignore}}</ref>

On March 24, 2008, after public discontent over the low acquisition price threatened the deal's closure, a revised offer was announced at approximately $10 per share.<ref name="Tracy 2018" /> Under the revised terms, JPMorgan also immediately acquired a 39.5% stake in Bear Stearns using newly issued shares at the new offer price and gained a commitment from the board, representing another 10% of the share capital, that its members would vote in favor of the new deal. With sufficient commitments to ensure a successful shareholder vote, the merger was completed on May 30, 2008.<ref>{{Cite web |title=JPMorgan Chase Completes Bear Stearns Acquisition (NYSE:JPM) |url=https://investor.shareholder.com/jpmorganchase/releasedetail.cfm?releaseid=313372 |url-status=dead |archive-url=https://web.archive.org/web/20171113112824/https://investor.shareholder.com/jpmorganchase/releasedetail.cfm?releaseid=313372 |archive-date=November 13, 2017 |access-date=November 12, 2017 |website=Investor.shareholder.com }}</ref>

=== Washington Mutual ===
[[File:Wamu.svg|thumb|The Washington Mutual logo prior to its 2008 acquisition by JPMorgan Chase]]

On September 25, 2008, JPMorgan Chase bought most of the banking operations of Washington Mutual from the [[Social:Receivership|receivership]] of the Federal Deposit Insurance Corporation. That night, the Office of Thrift Supervision, in what was by far the largest bank failure in American history, had seized Washington Mutual Bank and placed it into receivership. The FDIC sold the bank's assets, secured debt obligations, and deposits to JPMorgan Chase & Co for $1.836&nbsp;billion, which re-opened the bank the following day.

However, Chase did not purchase any mortgages in the FDIC receivership as the loans had already been sold off into Washington Mutual-branded mortgage-backed securities long before the receivership happened on September 25, 2008.  If Chase wanted ownership of any Washington Mutual mortgages, they had to purchase them from the FDIC by way of a Receiver's Deed or Bill of Sale. This could not occur, as there were no mortgages on Washington Mutual Bank's books at time of receivership.  Any recorded Assignments of Mortgage claiming that Chase was "successor in interest" and that the transfer occurred "by operation of law," would be incorrect.  The FDIC was "successor in interest" to Washington Mutual Bank.  Chase's purchase of the bank from the FDIC was for Washington Mutual Bank only and it occurred by a Purchase & Assumption Agreement<ref>[https://www.fdic.gov/foia/files/washington_mutual_p_and_a.pdf FDIC website - Purchase & Assumption Agreement]</ref> and not "by operation of law" from the receivership.

As a result of the takeover, Washington Mutual shareholders lost all their equity.<ref>Ellis, David. [https://money.cnn.com/2008/09/25/news/companies/JPM_WaMu/index.htm?postversion=2008092519 "JPMorgan buys WaMu"] {{Webarchive|url=https://web.archive.org/web/20201109021441/https://money.cnn.com/2008/09/25/news/companies/JPM_WaMu/index.htm?postversion=2008092519 |date=November 9, 2020 }}, ''CNNMoney'', September 25, 2008.</ref>

JPMorgan Chase raised $10&nbsp;billion in a stock sale to cover writedowns and losses after taking on deposits and branches of Washington Mutual.<ref>{{Cite web |last=Hester |first=Elizabeth |date=September 26, 2008 |title=JPMorgan Raises $10 billion in Stock Sale After WaMu (Update3) |url=https://www.bloomberg.com/apps/news?pid=20601103&sid=a9FHelZ13yFM&refer=news |url-status=dead |archive-url=https://web.archive.org/web/20090122224028/http://www.bloomberg.com/apps/news?pid=20601103 |archive-date=January 22, 2009 |access-date=April 13, 2013 |publisher=Bloomberg}}</ref> Through the acquisition, JPMorgan now owns the former accounts of Providian Financial, a credit card issuer WaMu acquired in 2005. The company announced plans to complete the rebranding of Washington Mutual branches to Chase by late 2009.{{citation needed|date=March 2022}} Chief executive Alan H. Fishman received a $7.5&nbsp;million sign-on bonus and cash severance of $11.6&nbsp;million after being CEO for 17 days.<ref name="payout">{{Cite news |date=September 26, 2008 |title=WaMu Gives New CEO Mega Payout as Bank Fails |publisher=Fox News |url=http://www.foxnews.com/story/0,2933,428641,00.html |url-status=dead |access-date=September 17, 2014 |archive-url=https://web.archive.org/web/20081205031934/http://www.foxnews.com/story/0%2C2933%2C428641%2C00.html |archive-date=December 5, 2008}}</ref>{{Importance inline|date=January 2023}}

===First Republic Bank===
{{Main|Company:First Republic Bank}}

On May 1, 2023, in what was now the second largest bank failure behind JPMorgan's acquisition of Washington Mutual fifteen years earlier, the company acquired "the substantial majority of assets" and inherited the deposits of First Republic Bank. Under terms disclosed by JPMorgan Chase & Co., it will make a $10.6&nbsp;billion payment to the Federal Deposit Insurance Corporation, return $25&nbsp;billion in funds that other banks deposited with First Republic in March in a lifeline negotiated with the US Department of Treasury at that time, and will eliminate a $5&nbsp;billion deposit it had made with First Republic.<ref>{{cite news |last1=Isidore |first1=Chris |last2=Dmitracova |first2=Olesya |title=JPMorgan Chase to buy most First Republic assets after bank fails |url=https://www.cnn.com/2023/05/01/business/first-republic-purchase-hnk-intl/index.html |access-date=May 1, 2023 |work=CNN |date=May 1, 2023 |language=en}}</ref> As a result of the takeover, First Republic Bank shareholders lost all their equity.

The FDIC estimates that the cost to the Deposit Insurance Fund will be about $13&nbsp;billion.<ref>{{cite web |title=JPMorgan Chase Bank, National Association, Columbus, Ohio Assumes All the Deposits of First Republic Bank, San Francisco, California |url=https://www.fdic.gov/news/press-releases/2023/pr23034.html |website=FDIC |access-date=May 1, 2023 |date=May 1, 2023}}</ref>

=== Recent history ===

==== 2006 ====
In 2006, JPMorgan Chase purchased Collegiate Funding Services, a portfolio company of private equity firm Lightyear Capital, for $663&nbsp;million. CFS was used as the foundation for the Chase Student Loans, previously known as Chase Education Finance.<ref>[http://findarticles.com/p/articles/mi_m0EIN/is_2005_Dec_15/ai_n15949015 Chase to Acquire Collegiate Funding Services] {{Webarchive|url=https://web.archive.org/web/20071214012429/http://findarticles.com/p/articles/mi_m0EIN/is_2005_Dec_15/ai_n15949015|date=December 14, 2007}}. Business Wire, December 15, 2005</ref>

In April 2006, JPMorgan Chase acquired Bank of New York Mellon's retail and small business banking network. The acquisition gave Chase access to 339 additional branches in New York, New Jersey, and Connecticut.<ref>{{Cite web |title=JPMorgan Chase completes acquisition of The Bank of New York's consumer, small-business and middle-market banking businesses |url=https://investor.shareholder.com/jpmorganchase/releasedetail.cfm?releaseid=212961 |url-status=dead |archive-url=https://web.archive.org/web/20161122224058/https://investor.shareholder.com/jpmorganchase/releasedetail.cfm?releaseid=212961 |archive-date=November 22, 2016 |access-date=November 22, 2016 |website=Investor.shareholder.com}}</ref> In 2008, J.P. Morgan acquired the UK-based carbon offsetting company ClimateCare.<ref>{{Cite news |last=Vidal |first=John |date=March 26, 2008 |title=JPMorgan buys British carbon offset company |work={{wipe|The Guardian}} |location=London |url=https://www.theguardian.com/business/2008/mar/27/jpmorgan.greenbusiness |url-status=live |access-date=November 5, 2013 |archive-url=https://web.archive.org/web/20201112011344/https://www.theguardian.com/business/2008/mar/27/jpmorgan.greenbusiness |archive-date=November 12, 2020}}</ref> JPMorgan Chase was the biggest bank at the end of 2008 as an individual bank (exclusive of its subsidiaries) during the [[Finance:2007–2008 financial crisis|2008 financial crisis]].<ref>{{Cite web |title=Money Economics Top 10 Banks Project |url=http://www.moneyeconomics.com/index.php?option=com_content&view=article&id=149:top-10-by-total-asset-jpmorgan-chase-bank&catid=42:saving-rates&Itemid=106 |url-status=live |archive-url=https://web.archive.org/web/20201127044930/http://www.moneyeconomics.com/maintenance.html?option=com_content&view=article&id=149:top-10-by-total-asset-jpmorgan-chase-bank&catid=42:saving-rates&Itemid=106 |archive-date=November 27, 2020 |access-date=April 13, 2013 |publisher=Moneyeconomics.com}}</ref>

==== 2008–2009 ====
On October 28, 2008, $25&nbsp;billion in funds were transferred from the U.S. Treasury Department to JPMorgan Chase, under the [[Finance:Troubled Asset Relief Program|Troubled Asset Relief Program]] (TARP).<ref name="Kim">{{cite web |author=Jim Kim |url=http://www.fiercefinance.com/story/tarf-plan-details-emerge/2008-10-13 |title=TARP details emerge – FierceFinanceIT |website=Fiercefinance.com |date=October 13, 2008 |access-date=February 2, 2016 |url-status=dead |archive-url=https://web.archive.org/web/20130827234401/http://www.fiercefinance.com/story/tarf-plan-details-emerge/2008-10-13 |archive-date=August 27, 2013 }}</ref> This was the fifth largest amount transferred under Section A of TARP<ref name="Ericson">{{cite web |url=http://projects.nytimes.com/creditcrisis/recipients/table |title=Tracking the $700 Billion Bailout – The New York Times |website=Projects.nytimes.com |access-date=February 2, 2016 |url-status=dead |archive-url=https://web.archive.org/web/20100220192916/http://projects.nytimes.com/creditcrisis/recipients/table |archive-date=February 20, 2010 }}</ref> to help troubled assets related to residential mortgages. It has been widely reported<ref name="Andrew Sorkin">[https://www.nytimes.com/2009/11/15/books/review/Barrett-t.html?pagewanted=all "Too Big to Fail Book"] {{Webarchive|url=https://web.archive.org/web/20180816103639/https://www.nytimes.com/2009/11/15/books/review/Barrett-t.html?pagewanted=all |date=August 16, 2018 }}. ''{{wipe|The New York Times}}''. November 12, 2009.</ref> that JPMorgan Chase was in much better financial shape than other banks and did not need TARP funds but accepted the funds because the government did not want to single out only the banks with capital issues. JPMorgan Chase stated in February 2009 that it would be using its capital-base monetary strength to acquire new businesses.<ref name="Chris Skinner">{{cite web |url=http://www.gurufocus.com/news/47352 |title=JP Morgan Chase's Premature Evacuation |website=GuruFocus.com |access-date=February 2, 2016 |archive-date=December 8, 2015 |archive-url=https://web.archive.org/web/20151208105207/http://www.gurufocus.com/news/47352 |url-status=live }}</ref>

By February 2009, the U.S. government had not moved forward in enforcing TARP's intent of funding JPMorgan Chase with $25&nbsp;billion.<ref name="Kim"/> In the face of the government's lack of action, Jamie Dimon was quoted during the week of February 1, 2009, as saying:

{{blockquote|JPMorgan would be fine if we stopped talking about the damn nationalization of banks. We've got plenty of capital. To policymakers, I say where were they?{{nbsp}}... They approved all these banks. Now they're beating up on everyone, saying look at all these mistakes, and we're going to come and fix it.<ref name="Skinner">{{cite web |url=http://www.gurufocus.com/news.php?id=47352 |title=JP Morgan Chase's Premature Evacuation |website=GuruFocus.com |access-date=February 2, 2016 |archive-date=February 7, 2009 |archive-url=https://web.archive.org/web/20090207200203/http://www.gurufocus.com/news.php?id=47352 |url-status=live }}</ref><ref name="Hertling">{{cite web|url=https://www.bloomberg.com/apps/news?pid%3D20601087%26sid%3DaSrfvUUeboBM%26refer%3Dhome |website={{wipe|Bloomberg News}} |access-date=March 7, 2017 |title=Bloomberg Politics }}</ref>}}

JPMorgan Chase was arguably the healthiest of the nine largest U.S. banks and did not need to take TARP funds. To encourage smaller banks with troubled assets to accept this money, Treasury Secretary Henry Paulson allegedly coerced the CEOs of the nine largest banks to accept TARP money under short notice.<ref name="Documents Reveal How Paulson Forced Banks To Take TARP Cash">{{cite web |url=http://www.businessinsider.com/uncovered-tarp-docs-reveal-how-paulson-forced-banks-to-take-the-cash-2009-5 |title=Uncovered TARP Docs Reveal How Paulson Forced Bankers To Take Cash |website=Business Insider |date=May 13, 2009 |access-date=February 2, 2016 |archive-date=January 8, 2016 |archive-url=https://web.archive.org/web/20160108050319/http://www.businessinsider.com/uncovered-tarp-docs-reveal-how-paulson-forced-banks-to-take-the-cash-2009-5 |url-status=live }}</ref>

In November 2009, J.P. Morgan announced it would acquire the balance of J.P. Morgan Cazenove, an advisory and underwriting joint venture established in 2004 with the Cazenove Group.<ref>{{Cite news |date=November 19, 2009 |title=JPMorgan Buys Rest of Cazenove for 1&nbsp;billion Pounds |work=Bloomberg |url=https://www.bloomberg.com/apps/news?pid=20601087&sid=aExgpC1XyF7g |url-status=dead |archive-url=https://web.archive.org/web/20100613163056/http://www.bloomberg.com/apps/news?pid=20601087 |archive-date=June 13, 2010}}</ref> Earlier in 2011, the company announced that by the use of [[Engineering:Field-programmable gate array|field-programmable gate array]]-based [[Supercomputer|supercomputer]]s, the time taken to [[Risk assessment|assess risk]] had been greatly reduced, from arriving at a conclusion within hours to what is now minutes.<ref>A Nguyen reporting December 15, 2011, in [http://www.computerworlduk.com/news/it-business/3325313/jp-morgan-expands-deployment-of-fpga-based-supercomputer/ ''Computer World UK''] {{Webarchive|url=https://web.archive.org/web/20150407103724/http://www.computerworlduk.com/news/it-business/3325313/jp-morgan-expands-deployment-of-fpga-based-supercomputer/|date=April 7, 2015}}. Retrieved June 7, 2012</ref> In 2013, J.P. Morgan acquired Bloomspot, a San Francisco-based startup. Shortly after the acquisition, the service was shut down and Bloomspot's talent was left unused.<ref>{{Cite news |last=Perez |first=Sarah |date=December 20, 2012 |title=Chase Acquires Local Offers Startup Bloomspot |work=Tech Crunch |url=https://techcrunch.com/2012/12/20/chase-acquires-local-offers-startup-bloomspot |url-status=live |access-date=February 7, 2016 |archive-url=https://web.archive.org/web/20161023000320/https://techcrunch.com/2012/12/20/chase-acquires-local-offers-startup-bloomspot/ |archive-date=October 23, 2016}}</ref><ref>{{Cite news |last=Frojo |first=Renée |date=August 7, 2013 |title=Deals Site Bloomspot Bites The Dust |work={{wipe|American City Business Journals}} |url=http://www.bizjournals.com/sanfrancisco/blog/2013/08/deals-site-bloomspot-bites-the-dust.html |url-status=live |access-date=March 6, 2018 |archive-url=https://web.archive.org/web/20201203203125/https://www.bizjournals.com/sanfrancisco/blog/2013/08/deals-site-bloomspot-bites-the-dust.html |archive-date=December 3, 2020}}</ref>

==== 2013 ====
In 2013, after teaming up with the Bill and Melinda Gates Foundation, [[Company:GlaxoSmithKline|GlaxoSmithKline]] and Children's Investment Fund, JPMorgan Chase, under Dimon launched a $94 Million fund with a focus on "late-stage healthcare technology trials". The "$94 million Global Health Investment Fund will give money to final-stage drug, vaccine, and medical device studies that are otherwise stalled at companies because of their relatively high failure risk and low consumer demand. Examples of problems that could be addressed by the fund include [[Medicine:Malaria|malaria]], [[Medicine:Tuberculosis|tuberculosis]], HIV/AIDS, and [[Medicine:Maternal death|maternal]] and infant mortality, according to the Gates and JPMorgan Chase led-group".<ref>{{Cite web |last=Delevingne |first=Lawrence |date=September 24, 2013 |title=Why Jamie Dimon and Bill Gates have teamed up |url=https://www.cnbc.com/2013/09/24/why-jamie-dimon-and-bill-gates-have-teamed-up.html |url-status=live |archive-url=https://web.archive.org/web/20201223130836/https://www.cnbc.com/2013/09/24/why-jamie-dimon-and-bill-gates-have-teamed-up.html |archive-date=December 23, 2020 |access-date=July 31, 2020 |website=CNBC}}</ref>

==== 2014 ====
The 2014 JPMorgan Chase data breach, disclosed in September 2014, compromised the JPMorgan Chase accounts of over 83 million customers. The attack was discovered by the bank's security team in late July 2014, but not completely halted until the middle of August.<ref>{{Cite news |last=Chan |first=Cathy |date=October 2, 2014 |title=Hackers' Attack on JPMorgan Chase Affects Millions |work=The New York Times |url=https://dealbook.nytimes.com/2014/10/02/jpmorgan-discovers-further-cyber-security-issues/?_php=true&_type=blogs&_r=0 |url-status=live |access-date=October 2, 2014 |archive-url=https://web.archive.org/web/20210212103949/https://dealbook.nytimes.com/2014/10/02/jpmorgan-discovers-further-cyber-security-issues/?_php=true&_type=blogs&_r=0 |archive-date=February 12, 2021}}</ref><ref>{{Cite news |last1=Goldstein |first1=Matthew |last2=Perlroth |first2=Nicole |last3=Sanger |first3=David E. |date=October 3, 2014 |title=Hackers' Attack Cracked 10 Financial Firms in Major Assault |work=The New York Times |url=https://dealbook.nytimes.com/2014/10/03/hackers-attack-cracked-10-banks-in-major-assault/ |url-status=live |access-date=October 4, 2014 |archive-url=https://web.archive.org/web/20201216231326/https://dealbook.nytimes.com/2014/10/03/hackers-attack-cracked-10-banks-in-major-assault/ |archive-date=December 16, 2020}}</ref>

In October 2014, J.P. Morgan sold its commodities trader unit to Mercuria for $800&nbsp;million, a quarter of the initial valuation of $3.5&nbsp;billion, as the transaction excluded some oil and metal stockpiles and other assets.<ref>{{Cite press release |title=JP Morgan sells commodity arm to Mercuria for $800 million |date=October 3, 2014 |publisher=Reuters |url=https://www.reuters.com/article/us-mercuria-jpmorgan-idUSKCN0HS1JA20141003 |access-date=July 1, 2017 |url-status=live |archive-url=https://web.archive.org/web/20151017122541/http://www.reuters.com/article/2014/10/03/us-mercuria-jpmorgan-idUSKCN0HS1JA20141003 |archive-date=October 17, 2015}}</ref>

==== 2016 ====
In March 2016, J.P. Morgan decided not to finance coal mines and coal power plants in wealthy countries.<ref>{{Cite web |last=TimLoh |first=Tim Loh |date=March 7, 2016 |title=JPMorgan Won't Back New Coal Mines to Combat Climate Change |url=https://www.bloomberg.com/news/articles/2016-03-07/jpmorgan-won-t-finance-new-coal-mines-that-worsen-climate-change |url-status=live |archive-url=https://web.archive.org/web/20201108110850/http://www.bloomberg.com/news/articles/2016-03-07/jpmorgan-won-t-finance-new-coal-mines-that-worsen-climate-change |archive-date=November 8, 2020 |access-date=March 7, 2017 |website=Bloomberg News}}</ref> In December 2016, 14 former executives of the Wendel investment company faced trial for tax fraud while JPMorgan Chase was to be pursued for complicity. Jean-Bernard Lafonta was convicted December 2015 for spreading false information and insider trading, and fined 1.5&nbsp;million euros.<ref>{{Cite web |date=December 3, 2016 |title=14 execs, JP Morgan Chase over tax fraud |url=http://www.financialexpress.com/world-news/france-fraud-france-to-try-14-execs-jp-morgan-chase-over-tax-fraud/462895/ |url-status=live |archive-url=https://web.archive.org/web/20201125144358/https://www.financialexpress.com/world-news/france-fraud-france-to-try-14-execs-jp-morgan-chase-over-tax-fraud/462895/ |archive-date=November 25, 2020 |access-date=April 10, 2017 |publisher=AFP |via=Financial Express}}</ref>

==== 2017 ====
In March 2017, Lawrence Obracanik, a former JPMorgan Chase & Co. employee, pleaded guilty to criminal charges that he stole more than $5&nbsp;million from his employer to pay personal debts.<ref>{{Cite news |date=March 3, 2017 |title=Ex-JPMorgan employee pleads guilty to $5 million fraud |publisher=Reuters |url=http://uk.reuters.com/article/uk-jpmorgan-court-idUKKBN16A01S |url-status=live |access-date=April 10, 2017 |archive-url=https://web.archive.org/web/20201124045050/https://uk.reuters.com/article/uk-jpmorgan-court-idUKKBN16A01S |archive-date=November 24, 2020}}</ref> In June 2017, Matt Zames, then-COO of the bank, decided to leave the firm.<ref>{{Cite web |date=June 8, 2017 |title=Jamie Dimon just said the exec many saw as his successor is leaving JPMorgan |url=https://www.cnbc.com/2017/06/08/jpmorgan-coo-matt-zames-leaving-the-bank-after-13-years.html |url-status=live |archive-url=https://web.archive.org/web/20201111234937/https://www.cnbc.com/2017/06/08/jpmorgan-coo-matt-zames-leaving-the-bank-after-13-years.html |archive-date=November 11, 2020 |access-date=September 9, 2017 |publisher=CNBC}}</ref> In December 2017, J.P. Morgan was sued by the Nigerian government for $875&nbsp;million, which Nigeria alleges was transferred by J.P. Morgan to a corrupt former minister.<ref>"[https://www.reuters.com/article/us-nigeria-oil-jpmorgan/nigeria-sues-jp-morgan-for-875-million-over-malabu-oilfield-deal-idUSKBN1F72HB Nigeria sues JP Morgan for $875 million over Malabu oilfield deal] {{Webarchive|url=https://web.archive.org/web/20201204161505/https://www.reuters.com/article/us-nigeria-oil-jpmorgan/nigeria-sues-jp-morgan-for-875-million-over-malabu-oilfield-deal-idUSKBN1F72HB |date=December 4, 2020 }}". Reuters. January 18, 2018.</ref> Nigeria accused J.P. Morgan of being "grossly negligent".<ref>"[https://www.reuters.com/article/nigeria-oil-jpmorgan/jp-morgan-says-it-knew-ex-minister-linked-to-firm-in-nigeria-oilfield-deal-idUSL5N1RH5K6 JP Morgan says it knew ex-minister linked to firm in Nigeria oilfield deal] {{Webarchive|url=https://web.archive.org/web/20200814062117/https://www.reuters.com/article/nigeria-oil-jpmorgan/jp-morgan-says-it-knew-ex-minister-linked-to-firm-in-nigeria-oilfield-deal-idUSL5N1RH5K6 |date=August 14, 2020 }}". Reuters. April 6, 2018.</ref>

==== 2019 ====
In February 2019, J.P. Morgan announced the launch of JPM Coin, a digital token that will be used to settle transactions between clients of its wholesale payments business.<ref>{{Cite web |date=February 14, 2019 |title=JP Morgan is rolling out the first US bank-backed cryptocurrency to transform payments business |url=https://www.cnbc.com/2019/02/13/jp-morgan-is-rolling-out-the-first-us-bank-backed-cryptocurrency-to-transform-payments--.html |url-status=live |archive-url=https://web.archive.org/web/20210131142833/https://www.cnbc.com/2019/02/13/jp-morgan-is-rolling-out-the-first-us-bank-backed-cryptocurrency-to-transform-payments--.html |archive-date=January 31, 2021 |access-date=February 20, 2019 |publisher=CNBC}}</ref> It would be the first [[Finance:Cryptocurrency|cryptocurrency]] issued by a United States bank.<ref>{{Cite web |date=February 14, 2019 |title=J.P. Morgan Chase Becomes First U.S. Bank With a Cryptocurrency |url=http://fortune.com/2019/02/14/jp-morgan-chase-cryptocurrency/ |url-status=live |archive-url=https://web.archive.org/web/20210209082141/https://fortune.com/2019/02/14/jp-morgan-chase-cryptocurrency/ |archive-date=February 9, 2021 |access-date=February 20, 2019 |website=Fortune}}</ref>

==== 2021 ====
On April 19, 2021, JP Morgan pledged $5{{nbsp}}billion towards the European Super League.<ref>{{Cite news |date=April 18, 2021 |title=European Super League – the key questions: What is it? Who is involved? How likely? |work=[[Engineering:Sky Sports|Sky Sports]] |url=https://www.skysports.com/football/news/11095/12279788/european-super-league-the-key-questions-what-is-it-who-is-involved-how-likely |url-status=live |access-date=April 19, 2021 |archive-url=https://web.archive.org/web/20210418215936/https://www.skysports.com/football/news/11095/12279788/european-super-league-the-key-questions-what-is-it-who-is-involved-how-likely |archive-date=April 18, 2021}}</ref><ref>{{Cite news |date=April 19, 2021 |title=Football club shares leap as JP Morgan to inject £4.3bn into new European Super League |work=The Independent |url=https://www.independent.co.uk/news/business/european-super-league-jp-morgan-b1833783.html |url-status=live |access-date=April 19, 2021 |archive-url=https://web.archive.org/web/20210419192918/https://www.independent.co.uk/news/business/european-super-league-jp-morgan-b1833783.html |archive-date=April 19, 2021}}</ref> a controversial breakaway group of football clubs seeking to create a monopolistic structure where the founding members would be guaranteed entry to the competition in perpetuity. They funded the failed attempt to create the league, which, if successful, would have ended the meritocratic European pyramid soccer system. J.P. Morgan's role in the creation of the Super League was instrumental; the investment bank was reported to have worked on it for several years.<ref name="Financial Times 2021">{{Cite web |date=2021 |title=JPMorgan apologises for backing breakaway football Super League |url=https://www.ft.com/content/bc927efb-1b05-4f2c-947d-a3832bfe7b36 |url-status=live |archive-url=https://web.archive.org/web/20210423105107/https://www.ft.com/content/bc927efb-1b05-4f2c-947d-a3832bfe7b36 |archive-date=April 23, 2021 |access-date=April 23, 2021 |website=Financial Times}}</ref> After a strong backlash, the owners/management of the teams that proposed creating the league pulled out of it.<ref>{{Cite web |date=April 21, 2021 |title=JP Morgan given lower sustainability rating after funding failed European Super League |url=http://www.theguardian.com/business/2021/apr/21/jp-morgan-chase-gets-sustainability-downgrade-standard-ethics-after-funding-failed-super-league |url-status=live |archive-url=https://web.archive.org/web/20210421144802/https://www.theguardian.com/business/2021/apr/21/jp-morgan-chase-gets-sustainability-downgrade-standard-ethics-after-funding-failed-super-league |archive-date=April 21, 2021 |access-date=April 21, 2021 |website=The Guardian |language=en}}</ref> After the attempt to end the European football hierarchy failed, J.P. Morgan apologized for its role in the scheme.<ref name="Financial Times 2021" /> JPMorgan Chase CEO Jamie Dimon said the company "kind of missed" that football supporters would respond negatively to the Super League.<ref>{{Cite news |last=Jones|first=Callum |title=Super League? We kinda missed the point, JP Morgan boss Jamie Dimon admits |language=en |work=The Times |url=https://www.thetimes.co.uk/article/super-league-we-kinda-missed-the-point-jp-morgan-boss-jamie-dimon-admits-x295qgsk2 |url-status=live |access-date=May 6, 2021 |archive-url=https://web.archive.org/web/20210506065714/https://www.thetimes.co.uk/article/super-league-we-kinda-missed-the-point-jp-morgan-boss-jamie-dimon-admits-x295qgsk2 |archive-date=May 6, 2021 |issn=0140-0460}}</ref> While the absence of promotion and relegation is a common sports model in the US, this is an antithesis to the European competition-based pyramid model and has led to widespread condemnation from Football federations internationally as well as at government level.<ref>{{Cite news |date=April 20, 2021 |title=European Super League: Ministers say they will work to block breakaway group |work=BBC News |url=https://www.bbc.com/news/uk-politics-56807515 |url-status=live |access-date=April 20, 2021 |archive-url=https://web.archive.org/web/20210420212703/https://www.bbc.com/news/uk-politics-56807515 |archive-date=April 20, 2021}}</ref> However, even at the time, JPMorgan had been involved in European football for almost 20 years. In 2003, they advised the Glazer ownership of Manchester United. It also advised Rocco Commisso, the owner of Mediacom, to purchase ACF Fiorentina, and Dan Friedkin on his takeover of A.S. Roma. Moreover, It aided Inter Milan and A.S. Roma to sell bonds backed by future media revenue, and Spain's Real Madrid CF to raise funds to refurbish their Santiago Bernabeu Stadium.<ref>{{Cite web |date=April 19, 2021 |title=JPMorgan Backs Super Soccer League With $4.8 Billion |url=https://www.bloomberg.com/news/articles/2021-04-19/jpmorgan-bets-4-8-billion-on-disrupting-world-s-biggest-sport |url-status=live |archive-url=https://web.archive.org/web/20210420220349/https://www.bloomberg.com/news/articles/2021-04-19/jpmorgan-bets-4-8-billion-on-disrupting-world-s-biggest-sport |archive-date=April 20, 2021 |access-date=April 20, 2021 |website=Bloomberg}}</ref>

In September 2021, JPMorgan Chase entered the UK retail banking market by launched an app-based [[Finance:Transaction account|current account]] under the Chase brand. This is the company's first retail banking operation outside of the United States.<ref>{{Cite web |date=September 25, 2021 |title=JP Morgan launches digital-only Chase current account in UK |url=https://www.theguardian.com/money/2021/sep/25/jp-morgan-launches-digital-only-chase-current-account-in-uk |url-status=live |archive-url=https://web.archive.org/web/20211012015038/https://www.theguardian.com/money/2021/sep/25/jp-morgan-launches-digital-only-chase-current-account-in-uk |archive-date=October 12, 2021 |access-date=October 12, 2021 |website=TheGuardian.com}}</ref><ref>{{Cite web |title=Archived copy |url=https://www.chase.co.uk/ |url-status=live |archive-url=https://web.archive.org/web/20190224202435/http://www.chase.co.uk/ |archive-date=February 24, 2019 |access-date=October 12, 2021}}</ref><ref>{{Cite web |date=September 21, 2021 |title=JP Morgan Chase launches UK bank account |url=https://www.which.co.uk/news/2021/09/jp-morgan-chase-launches-new-uk-bank-account-is-it-any-good/ |url-status=live |archive-url=https://web.archive.org/web/20230205193505/https://www.which.co.uk/news/article/jp-morgan-chase-launches-new-uk-bank-account-is-it-any-good-axyzU8z1ZG1J |archive-date=February 5, 2023 |access-date=October 12, 2021}}</ref> In 2021, the company made more than over 30 acquisitions including OpenInvest and Nutmeg.<ref>{{Cite web |last=Son |first=Ryan Browne, Hugh |date=June 17, 2021 |title=JPMorgan is buying UK robo-advisor Nutmeg to boost overseas retail banking expansion |url=https://www.cnbc.com/2021/06/17/jpmorgan-to-buy-uk-digital-wealth-manager-nutmeg-.html |url-status=live |archive-url=https://web.archive.org/web/20220611194104/https://www.cnbc.com/2021/06/17/jpmorgan-to-buy-uk-digital-wealth-manager-nutmeg-.html |archive-date=June 11, 2022 |access-date=June 11, 2022 |website=CNBC |language=en}}</ref><ref>{{Cite news |date=July 6, 2021 |title=JPMorgan Chase buying spree set to be Jamie Dimon's biggest in years |work=Financial Times |url=https://www.ft.com/content/90d54b3a-b1e9-4f99-8ebd-3ec84a3ca1e5 |url-access=subscription |access-date=June 11, 2022 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/90d54b3a-b1e9-4f99-8ebd-3ec84a3ca1e5 |archive-date=December 10, 2022}}</ref> In March 2022, JPMorgan Chase announced that would acquire Global Shares, a cloud-based provider of share plan software management.<ref>{{Cite web |last=Levitt |first=Hannah |date=March 15, 2022 |title=JPMorgan Agrees to Buy Share-Plan Software Company Global Shares |url=https://www.bloomberg.com/news/articles/2022-03-15/jpmorgan-agrees-to-buy-share-plan-software-company-global-shares |url-status=live |archive-url=https://web.archive.org/web/20220315212752/https://www.bloomberg.com/news/articles/2022-03-15/jpmorgan-agrees-to-buy-share-plan-software-company-global-shares |archive-date=March 15, 2022 |access-date=August 12, 2022 |website={{wipe|Bloomberg News}}}}</ref><ref>{{Cite web |last=Goodbody |first=Will |date=August 11, 2022 |title=J.P. Morgan completes takeover of Cork's Global Shares |url=https://www.rte.ie/news/business/2022/0811/1315179-j-p-morgan-completes-takeover-of-corks-global-shares/ |url-status=live |archive-url=https://web.archive.org/web/20220812050423/https://www.rte.ie/news/business/2022/0811/1315179-j-p-morgan-completes-takeover-of-corks-global-shares/ |archive-date=August 12, 2022 |access-date=August 12, 2022 |website=RTÉ}}</ref> In November 2021, JPMorgan Chase acquired restaurant recommendation website and owner of Zagat, The Infatuation.<ref>{{cite web |last=Tyagi |first=Sneha |date=November 8, 2021 |title=JPMorgan completes acquisition of The Infatuation |url=https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/jpmorgan-completes-acquisition-of-the-infatuation-67496449 |website=S&P Global}}</ref><ref>{{Cite news|last=Mullin|first=AnnaMaria Andriotis and Benjamin|date=September 9, 2021|title=JPMorgan to Buy Restaurant-Discovery Service the Infatuation|language=en-US|work={{wipe|The Wall Street Journal}}|url=https://www.wsj.com/articles/jpmorgan-to-buy-restaurant-discovery-service-the-infatuation-11631205033|access-date=September 9, 2021|issn=0099-9660}}</ref>

In June 2021, JPMorgan Chase invested in Brazilian digital bank C6, acquiring 40% of the company. The amount of investment was not disclosed, but 6 months before the deal C6 was valued at 2.28 billion dollars.<ref name='C6'>{{Cite news|lang=en|url=https://economictimes.indiatimes.com/markets/stocks/news/jpmorgan-increases-stake-in-brazilian-digital-bank-c6-to-46/articleshow/103189954.cms|title=JPMorgan increases stake in Brazilian digital bank C6 to 46%|website=The Economic Times|date=August 30, 2023 |access-date=2024-01-29|archive-date=2023-08-30|archive-url=https://web.archive.org/web/20230830030345/https://economictimes.indiatimes.com/markets/stocks/news/jpmorgan-increases-stake-in-brazilian-digital-bank-c6-to-46/articleshow/103189954.cms}}</ref>

==== 2022 ====
In 2022, JPMorgan Chase was ranked 24 on the {{wipe|Fortune 500}} rankings of the largest U.S. corporations by total revenue.<ref>{{Cite web |title=JPMorgan Chase {{!}} 2020 Fortune 500 |url=https://fortune.com/company/jpmorgan-chase/fortune500/ |url-status=live |archive-url=https://web.archive.org/web/20210115154039/https://fortune.com/company/jpmorgan-chase/fortune500/ |archive-date=January 15, 2021 |access-date=January 12, 2021 |website=Fortune |language=en}}</ref> In March 2022, JPMorgan Chase announced to wind down its business in {{wipe|Russia}} in compliance with regulatory and licensing requirements.<ref>{{Cite news |last=Son |first=Hugh |date=March 10, 2022 |title=JPMorgan is winding down its Russia operations amid widening business exodus over Ukraine war |url=https://www.cnbc.com/2022/03/10/jpmorgan-is-winding-down-its-russia-operations-amid-widening-business-exodus-over-ukraine-war.html |url-status=live |access-date=March 12, 2022 |archive-url=https://web.archive.org/web/20220313135143/https://www.cnbc.com/2022/03/10/jpmorgan-is-winding-down-its-russia-operations-amid-widening-business-exodus-over-ukraine-war.html |archive-date=March 13, 2022}}</ref>

On May 20, 2022, JPMorgan Chase used [[Finance:Blockchain|blockchain]] for collateral settlements, the latest Wall Street experimentation with the technology in the trading of traditional financial assets.<ref>{{Cite web |last=Yang |first=Yueqi |date=May 26, 2022 |title=JPMorgan Finds New Use for Blockchain in Trading and Lending – BNN Bloomberg |url=https://www.bnnbloomberg.ca/jpmorgan-finds-new-use-for-blockchain-in-trading-and-lending-1.1771038 |url-status=live |archive-url=https://web.archive.org/web/20220527013746/https://www.bnnbloomberg.ca/jpmorgan-finds-new-use-for-blockchain-in-trading-and-lending-1.1771038 |archive-date=May 27, 2022 |access-date=May 27, 2022 |website=BNN}}</ref>

In September 2022, the company announced it was acquiring California-based Renovite Technologies to expand its payments processing business amid heavy competition from fintech firms like [[Company:Stripe, Inc.|Stripe]] and [[Company:Adyen|Adyen]]. This comes on top of previous, similar moves of buying a 49% stake in fintech Viva Wallet and a majority sake in Volkswagen's payments business, among many other acquisitions in other areas of finance.<ref>{{Cite news |last=Barbaglia |first=Pamela |date=September 12, 2022 |title=JPMorgan to boost payments business with Renovite purchase |language=en |work=Reuters |url=https://www.reuters.com/markets/deals/jpmorgan-boost-payments-business-with-renovite-purchase-2022-09-12/ |url-status=live |access-date=September 12, 2022 |archive-url=https://web.archive.org/web/20220912172311/https://www.reuters.com/markets/deals/jpmorgan-boost-payments-business-with-renovite-purchase-2022-09-12/ |archive-date=September 12, 2022}}</ref><ref>{{Cite news |date=April 6, 2022 |title=Jamie Dimon's Greek Foray Offers JPMorgan a Gateway to Europe |work=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2022-04-06/dimon-s-greek-foray-bolsters-jpmorgan-s-pan-european-ambitions |url-status=live |access-date=September 12, 2022 |archive-url=https://web.archive.org/web/20220409043322/https://www.bloomberg.com/news/articles/2022-04-06/dimon-s-greek-foray-bolsters-jpmorgan-s-pan-european-ambitions |archive-date=April 9, 2022}}</ref><ref>{{Cite web |last=Browne |first=Ryan |title=JPMorgan is buying a majority stake in Volkswagen's payments unit |url=https://www.cnbc.com/2021/09/08/jpmorgan-to-buy-majority-stake-in-volkswagen-payments-unit.html |url-status=live |archive-url=https://web.archive.org/web/20220912172308/https://www.cnbc.com/2021/09/08/jpmorgan-to-buy-majority-stake-in-volkswagen-payments-unit.html |archive-date=September 12, 2022 |access-date=September 12, 2022 |website=CNBC |date=September 8, 2021 |language=en}}</ref>

In November 2022, JPMorgan Chase sent COO Daniel Pinto to the Global Financial Leaders' Investment Summit in Hong Kong.<ref>{{Cite web |last= |first= |last2= |first2= |date=October 27, 2022 |title=Big bankers are betting wrong in heading to Hong Kong |url=https://nypost.com/2022/10/26/big-bankers-are-betting-wrong-in-heading-to-hong-kong/ |access-date=November 11, 2022 |website=New York Post |language=en-US}}</ref> The attendance of US financial executives drew heavy criticism from some US lawmakers, who had previously urged the US financial executives to cancel their attendance to the summit.<ref name=":7">{{Cite web |title=U.S. lawmakers slam U.S. corporate executives' Hong Kong trip plans |url=https://www.politico.com/news/2022/10/05/wall-street-bankers-hong-kong-00060518 |access-date=October 21, 2022 |website=POLITICO |date=October 5, 2022 |language=en}}</ref><ref name=":1">{{Cite web |title=U.S. lawmakers slam Wall Street bankers' plan to attend Hong Kong summit |url=https://finance.yahoo.com/news/u-lawmakers-slam-wall-street-122008453.html |access-date=October 27, 2022 |website=finance.yahoo.com |date=October 27, 2022 |language=en-US}}</ref>

==== 2023 ====
In May 2023, ''{{wipe|CNBC}}'' reported JPMorgan Chase was developing a new tool for investment advisers using artificial intelligence called IndexGPT. Via trademark filing, this would rely on a "disruptive form of artificial intelligence" and cloud computing software to select investments for customers. This move was a sign the bank intended to launch a product in the near term, given the requirements around filing, and it came amid a flurry of development around [[Software:ChatGPT|ChatGPT]] and this technology from financial institutions. This came amid a period of job cuts, including for technology roles, even as the company emphasize its commitment to AI and created a model to detect potential changes in Federal Reserve policy.<ref>{{Cite web |last=Son |first=Hugh |date=May 25, 2023 |title=JPMorgan is developing a ChatGPT-like A.I. service that gives investment advice |url=https://www.cnbc.com/2023/05/25/jpmorgan-develops-ai-investment-advisor.html |access-date=May 26, 2023 |website=CNBC |language=en}}</ref><ref>{{Cite web |last=Son |first=Hugh |date=May 26, 2023 |title=JPMorgan Chase cut about 500 jobs this week, including technology and operations roles |url=https://www.cnbc.com/2023/05/26/job-cuts-jpmorgan-chase-cut-about-500-tech-and-ops-jobs-.html |access-date=June 2, 2023 |website=CNBC |language=en}}</ref><ref>{{Cite web |date=May 26, 2023 |title=JPMorgan has trademarked a name for a ChatGPT-style tool |url=https://qz.com/jpmorgan-indexgpt-ai-chatbot-investment-advice-1850478529 |access-date=June 2, 2023 |website=Quartz |language=en}}</ref><ref>{{Cite web |title=JPMorgan created a Fed-whispering A.I. model to help investors stay on top of the market |url=https://fortune.com/2023/04/28/jpmorgan-artificial-intelligence-chatgpt-llm-hawk-dove-federal-reserve-speak/ |access-date=June 2, 2023 |website=Fortune |language=en}}</ref>

JP increased its stake in C6 to 46% in 2023: the bank has increased the number of customers from 8 million to 25 million since 2021 and its loan portfolio from R$9.5 billion (about $2 billion) to R$40 billion ($8.2 billion).<ref name='C6'></ref>

== Lawsuits and legal settlements by years ==

=== 2001 ===
Chase paid out over $2&nbsp;billion in fines and legal settlements for their role in financing [[Company:Enron|Enron]] Corporation with aiding and abetting Enron Corp.'s [[Finance:Securities fraud|securities fraud]], which collapsed amid [[Company:Enron scandal|a financial scandal]] in 2001.<ref>{{Cite web |title=SEC Charges J.P. Morgan Chase In Connection With Enron's Accounting Fraud |url=https://www.sec.gov/litigation/litreleases/lr18252.htm/ |archive-url=https://web.archive.org/web/20031002204036/http://www.sec.gov/litigation/litreleases/lr18252.htm |archive-date=October 2, 2003}}</ref> In 2003, Chase paid $160&nbsp;million in fines and penalties to settle claims by the Securities and Exchange Commission and the Manhattan district attorney's office. In 2005, Chase paid $2.2&nbsp;billion to settle a lawsuit filed by investors in Enron.<ref>{{Cite news |last=Johnson |first=Carrie |date=June 15, 2005 |title=Settlement In Enron Lawsuit For Chase |newspaper={{wipe|The Washington Post}} |url=https://www.washingtonpost.com/wp-dyn/content/article/2005/06/14/AR2005061401609.html |url-status=live |access-date=September 1, 2017 |archive-url=https://web.archive.org/web/20181114224024/http://www.washingtonpost.com/wp-dyn/content/article/2005/06/14/AR2005061401609.html |archive-date=November 14, 2018}}</ref>

=== 2002 ===
In December 2002, Chase paid fines totaling $80&nbsp;million, with the amount split between the states and the federal government. The fines were part of a settlement involving charges that ten banks, including Chase, deceived investors with biased research. The total settlement with the ten banks was $1.4&nbsp;billion. The settlement required that the banks separate investment banking from research, and ban any allocation of IPO shares.<ref>{{Cite news |title=Wall Street firms to pay $1.4 billion in probe |publisher=MarketWatch |url=http://www.marketwatch.com/story/wall-street-firms-to-pay-14-billion-in-probe |url-status=live |access-date=April 13, 2013 |archive-url=https://web.archive.org/web/20200922121942/https://www.marketwatch.com/story/wall-street-firms-to-pay-14-billion-in-probe |archive-date=September 22, 2020}}</ref>

=== 2005 ===
JPMorgan Chase, which helped [[Underwriting|underwrite]] $15.4&nbsp;billion of WorldCom's bonds, agreed in March 2005 to pay $2&nbsp;billion; that was 46 percent, or $630&nbsp;million, more than it would have paid had it accepted an investor offer in May 2004 of $1.37&nbsp;billion. J.P. Morgan was the last big lender to settle. Its payment is the second largest in the case, exceeded only by the $2.6&nbsp;billion accord reached in 2004 by [[Company:Citigroup|Citigroup]].<ref>Morgenson, Gretchen (March 17, 2005), [https://www.nytimes.com/2005/03/22/business/22worldcom.html "Bank to Pay $2&nbsp;billion to Settle WorldCom Claims"] {{Webarchive|url=https://web.archive.org/web/20150409105735/http://www.nytimes.com/2005/03/22/business/22worldcom.html |date=April 9, 2015 }}, ''The New York Times''. Retrieved July 28, 2010</ref> In March 2005, 16 of WorldCom's 17 former underwriters reached settlements with the investors.<ref>Rovella, David E. & Baer, Justin (March 16, 2005), [http://quote.bloomberg.com/apps/news?pid=10000103&sid=auybDoZIEQTg&refer=news_index "JPMorgan to Pay $2 Bln to Settle WorldCom Fraud Suit"] {{webarchive|url=https://web.archive.org/web/20070930065736/http://quote.bloomberg.com/apps/news?pid=10000103&sid=auybDoZIEQTg&refer=news_index |date=September 30, 2007 }}, [[Company:Bloomberg L.P.|Bloomberg L.P.]] Retrieved July 28, 2010</ref><ref>{{Cite web |title=KCCLCC.net |url=http://www.kccllc.net/documents/0812229/0812229090624000000000002.pdf |url-status=dead |archive-url=https://web.archive.org/web/20090806190941/http://www.kccllc.net/documents/0812229/0812229090624000000000002.pdf |archive-date=August 6, 2009}}</ref> In 2005, JPMorgan Chase acknowledged that its two predecessor banks had received ownership of thousands of slaves as collateral prior to the Civil War. The company apologized for contributing to the "brutal and unjust institution" of slavery.<ref>{{Cite web |last=Moore |first=Jamillah |date=June 30, 2022 |title=JP Morgan Bank Slavery Disclosure |url=https://www.phila.gov/media/20230206134453/JP-Morgan-Bank-Slavery-Disclosure.pdf |access-date=May 2, 2023 |website=City of Philadelphia}}</ref><ref>{{Cite journal |last=Janssen |first=Claudia I. |date=January 2012 |title=Addressing Corporate Ties to Slavery: Corporate Apologia in a Discourse of Reconciliation |url=http://www.tandfonline.com/doi/abs/10.1080/10510974.2011.627974 |journal=Communication Studies |language=en |volume=63 |issue=1 |pages=18–35 |doi=10.1080/10510974.2011.627974 |s2cid=30404803 |issn=1051-0974}}</ref> The bank paid $5&nbsp;million in reparations in the form of a scholarship program for Black students.<ref>{{Cite web |title=JPMorgan Apologizes for Links to Slavery |url=https://www.npr.org/2005/01/24/4463740/jpmorgan-apologizes-for-links-to-slavery |url-status=live |archive-url=https://web.archive.org/web/20220521232808/https://www.npr.org/2005/01/24/4463740/jpmorgan-apologizes-for-links-to-slavery |archive-date=May 21, 2022 |access-date=May 21, 2022 |website=NPR.org |publisher=NPR}}</ref><ref>{{Cite web |date=January 22, 2005 |title=Bank admits it owned slaves |url=https://www.theguardian.com/world/2005/jan/22/usa.davidteather |url-status=live |archive-url=https://web.archive.org/web/20220521233447/https://www.theguardian.com/world/2005/jan/22/usa.davidteather |archive-date=May 21, 2022 |access-date=May 21, 2022 |website={{wipe|The Guardian}}}}</ref><ref>{{Cite web |title=From J.P. Morgan Chase, an Apology And $5 Million in Slavery Reparations |date=February 2005 |url=https://www.nysun.com/article/business-from-jp-morgan-chase-an-apology-and-5-million |url-status=live |archive-url=https://web.archive.org/web/20230205193456/https://www.nysun.com/article/business-from-jp-morgan-chase-an-apology-and-5-million |archive-date=February 5, 2023 |access-date=May 21, 2022 |publisher=The New York Sun}}</ref>

=== 2009 ===
In 2008 and 2009, 14 lawsuits were filed against JPMorgan Chase in various district courts on behalf of Chase credit card holders claiming the bank violated the Truth in Lending Act, breached its contract with the consumers, and committed a breach of the implied covenant of good faith and fair dealing. The consumers contended that Chase, with little or no notice, increased minimum monthly payments from 2% to 5% on loan balances that were transferred to consumers' credit cards based on the promise of a fixed interest rate. In May 2011, the United States District Court for the Northern District of California certified the class action lawsuit. On July 23, 2012, Chase agreed to pay $100&nbsp;million to settle the claim.<ref>{{Cite news |last1=Longstreth |first1=Andrew |last2=Stempel |first2=Jonathan |date=July 24, 2012 |title=JPMorgan Chase settles with credit card customers for $100 million |work=NBC News |url=https://www.nbcnews.com/business/jpmorgan-chase-settles-credit-card-customers-100-million-908078 |archive-url=https://web.archive.org/web/20121122180104/https://www.nbcnews.com/business/jpmorgan-chase-settles-credit-card-customers-100-million-908078 |archive-date=November 22, 2012}}</ref>

In November 2009, a week after Birmingham, Alabama Mayor Larry Langford was convicted for financial crimes related to bond swaps for Jefferson County, Alabama,{{Importance inline|date=January 2023}} JPMorgan Chase & Co. agreed to a $722&nbsp;million settlement with the U.S. Securities and Exchange Commission to end a probe into the sales of [[Finance:Derivative|derivatives]] that allegedly contributed to the near-bankruptcy of the county. JPMorgan had been chosen by the county commissioners to refinance the county's sewer debt, and the SEC had alleged that JPMorgan made undisclosed payments to close friends of the commissioners in exchange for the deal and made up for the costs by charging higher interest rates on the swaps.<ref>Braun, Martin Z. & Selway, William (November 4, 2009), [https://www.bloomberg.com/apps/news?pid=20601087&sid=aKdo.y7rr1ys&pos=3 "JPMorgan Ends SEC Alabama Swap Probe for $722&nbsp;million"] {{webarchive|url=https://web.archive.org/web/20100131100131/http://www.bloomberg.com/apps/news?pid=20601087&sid=aKdo.y7rr1ys&pos=3 |date=January 31, 2010 }}, [[Company:Bloomberg L.P.|Bloomberg L.P.]] Retrieved July 28, 2010</ref>

=== 2010 ===
In June 2010, J.P. Morgan Securities was fined a record £33.32&nbsp;million ($49.12&nbsp;million) by the UK Financial Services Authority (FSA) for failing to protect an average of £5.5&nbsp;billion of clients' money from 2002 to 2009.<ref>{{Cite news |last=White |first=Anna |date=January 5, 2012 |title=PwC fined record £1.4m over JPMorgan audit |work=The Daily Telegraph |location=London |url=https://www.telegraph.co.uk/finance/newsbysector/supportservices/8995981/PwC-fined-record-1.4m-over-JP-Morgan-audit.html |url-status=live |url-access=subscription |archive-url=https://ghostarchive.org/archive/20220111/https://www.telegraph.co.uk/finance/newsbysector/supportservices/8995981/PwC-fined-record-1.4m-over-JP-Morgan-audit.html |archive-date=January 11, 2022}}{{cbignore}}</ref><ref name="AFXnews" /> FSA requires financial firms to keep clients' funds in separate accounts to protect the clients in case such a firm becomes insolvent. The firm had failed to properly segregate client funds from corporate funds following the merger of Chase and J.P. Morgan, resulting in a violation of FSA regulations but no losses to clients. The clients' funds would have been at risk had the firm become insolvent during this period.<ref>{{Cite news |date=June 3, 2010 |title=JPMorgan in record FSA fine for risking clients' money |work=BBC News |url=https://www.bbc.co.uk/news/10225181 |url-status=live |access-date=July 21, 2018 |archive-url=https://web.archive.org/web/20200821094003/https://www.bbc.co.uk/news/10225181 |archive-date=August 21, 2020}}</ref> J.P. Morgan Securities reported the incident to the FSA, corrected the errors, and cooperated in the ensuing investigation, resulting in the fine being reduced 30% from an original amount of £47.6&nbsp;million.<ref name="AFXnews">[http://www.finanznachrichten.de/nachrichten-2010-06/17063389-update-2-uk-fines-jpmorgan-record-dollar-49-mln-warns-other-banks-020.htm "UK fines JPMorgan record $49 mln, warns other banks"] {{Webarchive|url=https://web.archive.org/web/20180919123518/https://www.finanznachrichten.de/nachrichten-2010-06/17063389-update-2-uk-fines-jpmorgan-record-dollar-49-mln-warns-other-banks-020.htm |date=September 19, 2018 }}, FinanzNachrichten.de, {{wipe|Reuters}}, June 3, 2010</ref>

=== 2011 ===
In January 2011, JPMorgan Chase admitted that it wrongly overcharged several thousand military families for their mortgages. The bank also admitted it improperly foreclosed on more than a dozen military families; both actions were in clear violation of the Servicemembers Civil Relief Act which automatically lowers mortgage rates to 6 percent, and bars foreclosure proceedings of active-duty personnel. The overcharges may have never come to light were it not for legal action taken by Captain Jonathan Rowles. Both Captain Rowles and his spouse Julia accused Chase of violating the law and harassing the couple for nonpayment. An official stated that the situation was "grim" and Chase initially stated it would be refunding up to $2,000,000 to those who were overcharged, and that families improperly foreclosed on have gotten or will get their homes back.<ref>[http://www.nbcnews.com/id/41043127 "No. 2 bank overcharged troops on mortgages"] {{Webarchive|url=https://web.archive.org/web/20200923231857/http://www.nbcnews.com/id/41043127 |date=September 23, 2020 }}, NBC News, January 17, 2011</ref> Chase has acknowledged that as many as 6,000 active duty military personnel were illegally overcharged, and more than 18 military families homes were wrongly foreclosed. In April, Chase agreed to pay a total of $27&nbsp;million in compensation to settle the class-action suit.<ref>Mui, Ylan Q. (April 23, 2011), [https://www.washingtonpost.com/business/economy/chase-pays-27-million-to-settle-suit-over-military-mortgages/2011/04/22/AFB4NBRE_story.html "J.P. Morgan Chase to pay $27&nbsp;million to settle lawsuit over military mortgages"] {{Webarchive|url=https://web.archive.org/web/20200821094532/https://www.washingtonpost.com/business/economy/chase-pays-27-million-to-settle-suit-over-military-mortgages/2011/04/22/AFB4NBRE_story.html |date=August 21, 2020 }}, ''{{wipe|The Washington Post}}'', p. 9. Retrieved April 24, 2011</ref> At the company's 2011 shareholders' meeting, Dimon apologized for the error and said the bank would forgive the loans of any active-duty personnel whose property had been foreclosed. In June 2011, lending chief Dave Lowman was forced out over the scandal.<ref>[http://rejournalonline.com/jpmorgan-chase-mortgage-chief-leaving-after-military-scandal/854002/ "JPMorgan Chase Mortgage Chief Leaving After Military Scandal"], ''Real Estate Journal Online''. June 15, 2011. Retrieved June 16, 2011 {{webarchive |url=https://web.archive.org/web/20110619201742/http://rejournalonline.com/jpmorgan-chase-mortgage-chief-leaving-after-military-scandal/854002/ |date=June 19, 2011}}</ref><ref>[http://articles.economictimes.indiatimes.com/2011-06-14/news/29656949_1_mortgage-business-bank-staff-large-banks "JPMorgan dismisses mortgage head David Lowman"] {{Webarchive|url=https://web.archive.org/web/20120130041245/http://articles.economictimes.indiatimes.com/2011-06-14/news/29656949_1_mortgage-business-bank-staff-large-banks |date=January 30, 2012 }}, ''The Economic Times'' Delhi. Reuters. June 14, 2011. Retrieved June 16, 2011</ref>

On August 25, 2011, JPMorgan Chase agreed to settle fines with regard to violations of the sanctions under the Office of Foreign Assets Control (OFAC) regime.{{Undue weight inline|date=January 2023}} The U.S. Department of Treasury released the following civil penalties information under the heading: "JPMorgan Chase Bank N.A. Settles Apparent Violations of Multiple Sanctions Programs":{{Importance inline|date=January 2023}}

{{blockquote|JPMorgan Chase Bank, N.A, New York, NY ("JPMC") has agreed to remit $88,300,000 to settle a potential civil liability for apparent violations of the Cuban Assets Control Regulations ("CACR"), 31 C.F.R. part 515; the Weapons of Mass Destruction Proliferators Sanctions Regulations ("WMDPSR"), 31 C.F.R. part 544; Executive Order 13382, "Blocking Property of Weapons of Mass Destruction Proliferators and Their Supporters;" the Global Terrorism Sanctions Regulations ("GTSR"), 31 C.F.R. part 594; the Iranian Transactions Regulations ("ITR"), 31 C.F.R. part 560; the Sudanese Sanctions Regulations ("SSR"), 31 C.F.R. part 538; the Former Liberian Regime of Charles Taylor Sanctions Regulations ("FLRCTSR"), 31 C.F.R. part 593; and the Reporting, Procedures, and Penalties Regulations ("RPPR"), 31 C.F.R. part 501, that occurred between December 15, 2005, and March 1, 2011.|U.S. Department of the Treasury Resource Center, OFAC Recent Actions. Retrieved June 18, 2013.<ref>{{Cite press release |title=JPMorgan Chase & Co. |publisher=Department of the Treasury |url=http://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20110825.aspx |access-date=12 November 2017 |url-status=live |archive-url=https://web.archive.org/web/20200812212527/https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20110825.aspx |archive-date=August 12, 2020}}</ref>}}

=== 2012 ===
On February 9, 2012, it was announced that the five largest mortgage servicers (Ally/GMAC, Bank of America, Citi, JPMorgan Chase, and Wells Fargo) agreed to a historic settlement with the federal government and 49 states.<ref>{{Cite web |title=Joint State-Federal Mortgage Servicing Settlement FAQ |url=http://www.nationalmortgagesettlement.com/faq |url-status=live |archive-url=https://web.archive.org/web/20180505232006/http://www.nationalmortgagesettlement.com/faq |archive-date=May 5, 2018 |access-date=June 15, 2015 |website=Nationalmortgagesettlement.com}}</ref> The settlement, known as the National Mortgage Settlement (NMS), required the servicers to provide about $26&nbsp;billion in relief to distressed homeowners and in direct payments to the states and federal government. This settlement amount makes the NMS the second largest civil settlement in U.S. history, only trailing the Tobacco Master Settlement Agreement.<ref>{{Cite news |date=February 10, 2012 |title=Mortgage Plan Gives Billions to Homeowners, but With Exceptions |work=The New York Times |url=https://www.nytimes.com/2012/02/10/business/states-negotiate-26-billion-agreement-for-homeowners.html |url-status=live |access-date=February 16, 2017 |archive-url=https://web.archive.org/web/20201125030152/http://www.nytimes.com/2012/02/10/business/states-negotiate-26-billion-agreement-for-homeowners.html |archive-date=November 25, 2020}}</ref> The five banks were also required to comply with 305 new mortgage servicing standards. Oklahoma held out and agreed to settle with the banks separately.

In 2012, JPMorgan Chase & Co was charged for misrepresenting and failing to disclose that the [[Finance:2012 JPMorgan Chase trading loss|CIO had engaged in speculative trades]] that exposed JPMorgan to significant losses.<ref>{{Cite news |last1=McLaughlin |first1=David |last2=Kopecki |first2=Dawn |date=November 21, 2012 |title=JPMorgan Chase & Co. |agency={{wipe|Bloomberg News}} |url=https://www.bloomberg.com/news/2012-11-21/jpmorgan-turned-cio-into-prop-trading-desk-pensions-say.html |url-status=live |access-date=March 6, 2018 |archive-url=https://web.archive.org/web/20130910040420/http://www.bloomberg.com/news/2012-11-21/jpmorgan-turned-cio-into-prop-trading-desk-pensions-say.html |archive-date=September 10, 2013}}</ref>

=== 2013 ===

In July 2013, The Federal Energy Regulatory Commission (FERC) approved a stipulation and consent agreement under which JPMorgan Ventures Energy Corporation (JPMVEC), a subsidiary of JPMorgan Chase & Co., agreed to pay $410&nbsp;million in penalties and disgorgement to ratepayers for allegations of [[Finance:Market manipulation|market manipulation]] stemming from the company's bidding activities in [[Engineering:Electricity market|electricity market]]s in {{wipe|California}} and the Midwest from September 2010 through November 2012.{{Undue weight inline|date=January 2023}} JPMVEC agreed to pay a civil penalty of $285&nbsp;million to the U.S. Treasury and to disgorge $125&nbsp;million in unjust profits. JPMVEC admitted the facts set forth in the agreement, but neither admitted nor denied the violations.<ref name="ferc-2013">{{Cite web |date=July 30, 2013 |title=FERC, JPMorgan Unit Agree to $410 Million in Penalties, Disgorgement to Ratepayers |url=https://www.ferc.gov/media/news-releases/2013/2013-3/07-30-13.asp |url-status=live |archive-url=https://web.archive.org/web/20190624162201/https://www.ferc.gov/media/news-releases/2013/2013-3/07-30-13.asp |archive-date=June 24, 2019 |access-date=August 5, 2013 |publisher=Federal Energy Regulatory Commission}}</ref> The case stemmed from multiple referrals to FERC from market monitors in 2011 and 2012 regarding JPMVEC's bidding practices. FERC investigators determined that JPMVEC engaged in 12 manipulative bidding strategies designed to make profits from power plants that were usually out of the money in the marketplace. In each of them, the company made bids designed to create artificial conditions that forced California and Midcontinent Independent System Operators (ISOs) to pay JPMVEC outside the market at premium rates.<ref name="ferc-2013" /> FERC investigators further determined that JPMVEC knew that the California ISO and Midcontinent ISO received no benefit from making inflated payments to the company, thereby defrauding the ISOs by obtaining payments for benefits that the company did not deliver beyond the routine provision of energy. FERC investigators also determined that JPMVEC's bids displaced other generation and altered day ahead and real-time prices from the prices that would have resulted had the company not submitted the bids.<ref name="ferc-2013" /> Under the Energy Policy Act of 2005, Congress directed FERC to detect, prevent, and appropriately sanction the gaming of energy markets. According to FERC, the Commission approved the settlement as in the public interest.<ref name="ferc-2013" />

FERC's investigation of energy market manipulations led to a subsequent investigation into possible obstruction of justice by employees of JPMorgan Chase.<ref name="flitter-2013">{{Cite news |last=Flitter |first=Emily |date=September 4, 2013 |title=Exclusive: JPMorgan subject of obstruction probe in energy case |work=Reuters |url=https://www.reuters.com/article/us-jpm-ferc-doj-idUSBRE9830QM20130904 |url-status=live |access-date=September 4, 2013 |archive-url=https://web.archive.org/web/20131105160908/https://www.reuters.com/article/2013/09/04/us-jpm-ferc-doj-idUSBRE9830QM20130904 |archive-date=November 5, 2013}}</ref> Various newspapers reported in September 2013 that the Federal Bureau of Investigation (FBI) and US Attorney's Office in Manhattan were investigating whether employees withheld information or made false statements during the FERC investigation.<ref name="flitter-2013" /> The reported impetus for the investigation was a letter from {{wipe|Massachusetts}} Senators Elizabeth Warren and Edward Markey, in which they asked FERC why no action was taken against people who impeded the FERC investigation.<ref name="flitter-2013" /> At the time of the FBI investigation, the Senate Permanent Subcommittee on Investigations was also looking into whether JPMorgan Chase employees impeded the FERC investigation.<ref name="flitter-2013" /> {{wipe|Reuters}} reported that JPMorgan Chase was facing over a dozen investigations at the time.<ref name="flitter-2013" />

[[Biography:Bernie Madoff|Bernie Madoff]] opened a business account at Chemical Bank in 1986 and maintained it until 2008, long after Chemical acquired Chase.{{Undue weight inline|date=January 2023}} In 2010, Irving Picard, the SIPC receiver appointed to liquidate Madoff's company, alleged that JPMorgan Chase failed to prevent Madoff from defrauding his customers. According to the suit, Chase "knew or should have known" that Madoff's wealth management business was a fraud. However, Chase did not report its concerns to regulators or law enforcement until October 2008, when it notified the UK Serious Organised Crime Agency. Picard argued that even after Morgan's investment bankers reported its concerns about Madoff's performance to UK officials, Chase's retail banking division did not put any restrictions on Madoff's banking activities until his arrest two months later.<ref>{{Cite web |title=Madoff trustee suit against JPMorgan Chase |url=http://online.wsj.com/public/resources/documents/020311madoffjpm.pdf |url-status=live |archive-url=https://web.archive.org/web/20201127001941/http://online.wsj.com/public/resources/documents/020311madoffjpm.pdf |archive-date=November 27, 2020 |access-date=November 27, 2013}}</ref> The receiver's suit against JPMorgan Chase was dismissed by the Court for failing to set forth any legally cognizable claim for damages.<ref>{{Cite news |last=Bob Van Voris |title=JPMorgan Wins Dismissal of $19 Billion in Madoff Trustee Claims |work=Bloomberg |url=https://www.bloomberg.com/news/2011-11-01/jpmorgan-ubs-win-dismissal-of-madoff-trustee-picard-s-common-law-claims.html |url-status=live |access-date=March 7, 2017 |archive-url=https://web.archive.org/web/20141129023645/http://www.bloomberg.com/news/2011-11-01/jpmorgan-ubs-win-dismissal-of-madoff-trustee-picard-s-common-law-claims.html |archive-date=November 29, 2014}}</ref> In the fall of 2013, JPMorgan Chase began talks with prosecutors and regulators regarding compliance with anti-money-laundering and know-your-customer banking regulations in connection with Madoff.{{citation needed|date=March 2022}}

In August 2013, JPMorgan Chase announced that it was being investigated by the United States Department of Justice over its offerings of [[Finance:Mortgage-backed security|mortgage-backed securities]] leading up to the [[Finance:Financial crisis of 2007–08|financial crisis of 2007–08]]. The company said that the Department of Justice had preliminarily concluded that the firm violated federal securities laws in offerings of subprime and [[Finance:Alt-A|Alt-A]] residential mortgage securities during the period 2005 to 2007.<ref>{{Cite news |date=August 7, 2013 |title=JPMorgan faces criminal and civil probes over mortgages |work=Reuters |url=http://uk.reuters.com/article/uk-jpmorgan-probes-idUKBRE9761A420130807 |url-status=live |access-date=July 5, 2021 |archive-url=https://web.archive.org/web/20230205193458/https://www.reuters.com/?edition-redirect=uk |archive-date=February 5, 2023}}</ref> On November 19, 2013, the Justice Department announced that JPMorgan Chase agreed to pay $13&nbsp;billion to settle investigations into its business practices pertaining to [[Finance:Mortgage-backed security|mortgage-backed securities]].<ref>[https://money.cnn.com/2013/11/19/investing/jpmorgan-mortgage-settlement/index.html JPMorgan agrees to $13 billion mortgage settlement] {{Webarchive|url=https://web.archive.org/web/20201112000502/https://money.cnn.com/2013/11/19/investing/jpmorgan-mortgage-settlement/index.html |date=November 12, 2020 }}. CNN. November 19, 2013.</ref> Of that amount, $9&nbsp;billion was penalties and fines, and the remaining $4&nbsp;billion was consumer relief. This was the largest corporate settlement to date. Conduct at Bear Stearns and Washington Mutual prior to their 2008 acquisitions accounted for much of the alleged wrongdoing. The agreement did not settle criminal charges.<ref>[http://money.msn.com/investing/post--jp-morgan-to-pay-dollar13-billion-in-deal-with-us JPMorgan to pay $13 billion in deal with US] {{Webarchive|url=https://web.archive.org/web/20131029192044/http://money.msn.com/investing/post--jp-morgan-to-pay-dollar13-billion-in-deal-with-us |date=October 29, 2013 }}. MSN Money. October 22, 2013.</ref>

=== 2014 ===
On January 7, 2014, JPMorgan Chase agreed to pay a total of $2.05&nbsp;billion in fines and penalties to settle civil and criminal charges related to its role in the Madoff scandal.{{Undue weight inline|date=January 2023}} The government filed a two-count criminal information charging JPMorgan Chase with Bank Secrecy Act violations, but the charges would be dismissed within two years provided that JPMorgan Chase reforms its anti-money laundering procedures and cooperates with the government in its investigation. The bank agreed to forfeit $1.7&nbsp;billion. The lawsuit, which was filed on behalf of shareholders against chief executive Jamie Dimon and other high-ranking JPMorgan Chase employees, used statements made by [[Biography:Bernie Madoff|Bernie Madoff]] during interviews conducted while in prison in Butner, North Carolina claiming that JPMorgan Chase officials knew of the fraud. The lawsuit stated that "JPMorgan was uniquely positioned for 20 years to see Madoff's crimes and put a stop to them ... But faced with the prospect of shutting down Madoff's account and losing lucrative profits, JPMorgan – at its highest level – chose to turn a blind eye."<ref>{{Cite news |last=Stempel |first=Jonathan |title=Madoff said JPMorgan executives knew of his fraud: lawsuit |work=Reuters |url=https://www.reuters.com/article/us-jpmorgan-madoff-idUSBREA1J21W20140220 |url-status=live |access-date=July 1, 2017 |archive-url=https://web.archive.org/web/20201024125602/https://www.reuters.com/article/us-jpmorgan-madoff-idUSBREA1J21W20140220 |archive-date=October 24, 2020}}</ref>{{POV statement|date=January 2023}} JPMorgan Chase also agreed to pay a $350&nbsp;million fine to the Office of the Comptroller of the Currency and settle the suit filed against it by Picard for $543&nbsp;million.<ref>{{Cite web |date=January 7, 2014 |title=J P Morgan Chase pays $1.7 billion and settles Madoff related criminal case |url=https://www.forbes.com/sites/nathanvardi/2014/01/07/jpmorgan-chase-to-pay-1-7-billion-in-largest-bank-forfeiture-in-history-settles-criminal-madoff-charges/ |url-status=live |archive-url=https://web.archive.org/web/20201214221828/https://www.forbes.com/sites/nathanvardi/2014/01/07/jpmorgan-chase-to-pay-1-7-billion-in-largest-bank-forfeiture-in-history-settles-criminal-madoff-charges/ |archive-date=December 14, 2020 |access-date=September 1, 2017 |website=Forbes}}</ref><ref>[https://www.bbc.co.uk/news/business-25641476 JPMorgan to pay $1.7bn to victims of the Madoff fraud] {{Webarchive|url=https://web.archive.org/web/20201112014316/https://www.bbc.co.uk/news/business-25641476|date=November 12, 2020}} BBC January 7, 2014</ref><ref>[http://s3.documentcloud.org/documents/1003069/jpmorgan-federal-settlement-in-madoff-case.pdf Text of deferred prosecution agreement] in Madoff case {{webarchive|url=https://web.archive.org/web/20140108002915/http://s3.documentcloud.org/documents/1003069/jpmorgan-federal-settlement-in-madoff-case.pdf|date=January 8, 2014}}</ref><ref>Protess, Ben; Silver-Greenberg, Jessica. [https://dealbook.nytimes.com/2013/10/23/madoff-action-seen-as-possible-for-jpmorgan JPMorgan Faces Possible Penalty in Madoff Case] {{Webarchive|url=https://web.archive.org/web/20201125025520/https://dealbook.nytimes.com/2013/10/23/madoff-action-seen-as-possible-for-jpmorgan/|date=November 25, 2020}}, ''{{wipe|The New York Times}}'', October 23, 2013.</ref>

=== 2016 ===
In November 2016, JPMorgan Chase agreed to pay $264&nbsp;million in fines to settle civil and criminal charges involving a systematic bribery scheme spanning 2006 to 2013 in which the bank secured business deals in [[Place:Hong Kong|Hong Kong]] by agreeing to hire hundreds of friends and relatives of Chinese government officials, resulting in more than $100&nbsp;million in revenue for the bank.<ref>{{Cite news |last=Merle |first=Renae |title=JPMorgan Chase to pay $264 million in fines for bribing foreign officials by hiring their friends and family |newspaper={{wipe|The Washington Post}} |url=https://www.washingtonpost.com/news/business/wp/2016/11/17/jpmorgan-chase-to-pay-264-million-in-fines-for-bribing-foreign-officials-by-hiring-their-friends-and-family/ |url-status=live |access-date=July 3, 2017 |archive-url=https://web.archive.org/web/20200809013700/https://www.washingtonpost.com/news/business/wp/2016/11/17/jpmorgan-chase-to-pay-264-million-in-fines-for-bribing-foreign-officials-by-hiring-their-friends-and-family/ |archive-date=August 9, 2020}}</ref>

=== 2017 ===
In January 2017, the United States sued the company, accusing it of discriminating against "thousands" of black and Hispanic mortgage borrowers between 2006 and at least 2009.<ref>{{Cite news |date=January 18, 2017 |title=U.S. sues JPMorgan for alleged mortgage discrimination |work=Reuters |url=https://www.reuters.com/article/us-jpmorgan-lawsuit-idUSKBN1521TY?il=0 |url-status=live |access-date=January 18, 2017 |archive-url=https://web.archive.org/web/20210125124951/https://www.reuters.com/article/us-jpmorgan-lawsuit-idUSKBN1521TY?il=0 |archive-date=January 25, 2021}}</ref><ref>{{Cite news |title=U.S. accuses JPMorgan of mortgage discrimination in lawsuit |language=en |work=USA TODAY |url=https://www.usatoday.com/story/money/2017/01/18/us-accuses-jpmorgan-mortgage-discrimination-lawsuit/96710486/ |url-status=live |access-date=January 18, 2017 |archive-url=https://web.archive.org/web/20210122084113/https://www.usatoday.com/story/money/2017/01/18/us-accuses-jpmorgan-mortgage-discrimination-lawsuit/96710486/ |archive-date=January 22, 2021}}</ref>

=== 2018 ===
On December 26, 2018, as part of an investigation by the U.S. Securities and Exchange Commission (SEC) into abusive practices related to [[Finance:American depositary receipt|American depositary receipt]]s (ADRs), JPMorgan agreed to pay more than $135&nbsp;million to settle charges of improper handling of "pre-released" ADRs without admitting or denying the SEC's findings. The sum consisted of $71&nbsp;million in ill-gotten gains plus $14.4&nbsp;million in prejudgment interest and an additional penalty of $49.7&nbsp;million.<ref>{{Cite web |title=SEC.gov {{!}} JPMorgan to Pay More Than $135 Million for Improper Handling of ADRs |url=https://www.sec.gov/news/press-release/2018-306 |url-status=live |archive-url=https://web.archive.org/web/20210127024205/https://www.sec.gov/news/press-release/2018-306 |archive-date=January 27, 2021 |access-date=January 24, 2019 |website=www.sec.gov}}</ref>

=== 2020 ===
On May 14, 2020, ''[[Social:Financial Times|Financial Times]]'', citing a report which revealed how companies are treating employees, their supply chains and other stakeholders, during the COVID-19 pandemic, documented that J.P. Morgan Asset Management alongside Fidelity Investments and Vanguard have been accused of paying lip services to cover human rights violations. The UK based media also referenced that a few of the world's biggest fund houses took the action to lessen the impact of abuses, such as modern slavery, at the companies they invest in. J.P. Morgan, in responding to the report, said that it took "human rights violations very seriously" and "any company with alleged or proven violations of principles, including human rights abuses, is scrutinized and may result in either enhanced engagement or removal from a portfolio."<ref>{{Cite news |last=Mooney |first=Attracta |date=May 14, 2020 |title=Fidelity, Vanguard and JPMorgan accused of ignoring human rights |work=Financial Times |url=https://www.ft.com/content/ba19215c-3774-4bd5-b3a8-225f5e41b996 |url-status=live |url-access=subscription |access-date=May 14, 2020 |archive-url=https://web.archive.org/web/20200824001523/https://www.ft.com/content/ba19215c-3774-4bd5-b3a8-225f5e41b996 |archive-date=August 24, 2020}}</ref>

In September 2020, the company admitted that it manipulated precious metals futures and government bond markets in a span period of eight years. It settled with the United States Department of Justice, U.S. Securities and Exchange Commission, and the Commodity Futures Trading Commission for $920&nbsp;million. J.P. Morgan will not face criminal charges, however, it will launch into a deferred prosecution agreement for three years.<ref>{{Cite news |last1=Shubber |first1=Kadhim |last2=Stafford |first2=Philip |date=September 29, 2020 |title=JPMorgan to pay $920m in largest-ever spoofing settlement |work=[[Social:Financial Times|Financial Times]] |url=https://www.ft.com/content/f2c918c2-2659-4513-8851-cc40379d4840 |url-status=live |access-date=September 29, 2020 |archive-url=https://web.archive.org/web/20210201020355/https://www.ft.com/content/f2c918c2-2659-4513-8851-cc40379d4840 |archive-date=February 1, 2021}}</ref>

=== 2022–2023 ===
On November 24, 2022, two women who accused Jeffrey Epstein of sex trafficking and sexual abuse also sued JPMorgan and Deutsche Bank, accusing them of benefiting and closing their eyes to Epstein's sex trafficking operations. According to the lawsuits, banks knew that Epstein's accounts were used to finance sex trafficking crimes.<ref>{{Cite news |date=November 25, 2022 |title=Jeffrey Epstein victims sue several major banks |publisher=BBC News |url=https://www.bbc.com/news/business-63750504 |url-status=live |access-date=November 25, 2022 |archive-url=https://web.archive.org/web/20221125004203/https://www.bbc.com/news/business-63750504 |archive-date=November 25, 2022}}</ref><ref>{{Cite news |date=November 25, 2022 |title=Women sue Deutsche Bank, JPMorgan over Epstein ties |language=en |work=Reuters |agency=Reuters |url=https://www.reuters.com/legal/women-sue-deutsche-bank-jpmorgan-over-epstein-ties-2022-11-24/ |access-date=May 17, 2023}}</ref> In June 2023, after the allegations reached class-action status, the parties reached a settlement, with JPMorgan agreeing to pay $290{{nbsp}}million.<ref>{{cite news |last1=Chappell |first1=Bill |last2=Guru |first2=David |date=June 12, 2023 |title=Epstein accuser Jane Doe 1 reaches $290 million settlement with JPMorgan Chase |url=https://www.npr.org/2023/06/12/1181675580/epstein-jane-doe-1-290-million-settlement-jpmorgan-chase |website=NPR}}</ref>

In September 2023, JPMorgan agreed to a $75&nbsp;million settlement with the United States Virgin Islands Department of Justice for its alleged facilitation and failure to notify law enforcement of Epstein's illegal activities.<ref>{{cite news|title=JPMorgan will pay $75 million on claims that it enabled Jeffrey Epstein's sex trafficking operations |url=https://apnews.com/article/jpmorgan-epstein-virgin-islands-lawsuit-b33f0094586fd4fa229bd6295a7d09e8 |work=AP News |date=September 26, 2023}}</ref>

== Financial data ==
{| class="wikitable"
! Year !! 1998 !! 1999 !! 2000 !! 2001 !! 2002 !! 2003 !! 2004 !! 2005 !! 2006 !! 2007 !! 2008 !! 2009 !! 2010 !! 2011 !! 2012 !! 2013 !! 2014 !! 2015 !! 2016 !! 2017 !! 2018 !! 2019 !! 2020 !! 2021 !! 2022
|-
| [[Finance:Revenue|Revenue]] || 25.87 || 31.15 || 33.19 || 29.34 || 29.61 || 33.19 || 42.74 || 54.25 || 62.00 || 71.37 || 67.25 || 100.4 || 102.7 || 97.23 || 97.03 || 96.61 || 94.21 || 93.54 || 95.67 || 99.62 || 109.03 || 115.40 || 119.54 || 121.65 || 128.69 
|-
| [[Finance:Net income|Net income]] || 4.745 || 7.501 || 5.727 || 1.694 || 1.663 || 6.719 || 4.466 || 8.483 || 14.44 || 15.37 || 5.605 || 11.73 || 17.37 || 18.98 || 21.28 || 17.92 || 21.76 || 24.44 || 24.73 || 24.44 || 32.47 || 36.43 || 29.13 || 48.33 || 37.68
|-
| [[Finance:Asset|Asset]]s || 626.9 || 667.0 || 715.3 || 693.6 || 758.8 || 770.9 || 1,157 || 1,199 || 1,352 || 1,562 || 2,175 || 2,032 || 2,118 || 2,266 || 2,359 || 2,416 || 2,573 || 2,352 || 2,491 || 2,534 || 2,623 || 2,687 || 3,386 || 3,743 || 3,666
|-
| [[Finance:Equity|Equity]] || 35.10 || 35.06 || 42.34 || 41.10 || 42.31 || 46.15 || 105.7 || 107.2 || 115.8 || 123.2 || 166.9 || 165.4 || 176.1 || 183.6 || 204.1 || 210.9 || 231.7 || 247.6 || 254.2 || 255.7 || 256.5 || 261.3 || 279.4 || 294.1 || 292.3
|-
| [[Social:Market capitalization|Capitalization]] ||  ||  ||  ||  ||  || 75.03 || 138.7 || 138.4 || 167.2 || 147.0 || 117.7 || 164.3 || 165.9 || 125.4 || 167.3 || 219.7 || 232.5 || 241.9 || 307.3 || 366.3 || 319.8 || 429.9 || 387.5 || ||
|-
| Headcount|| ||  ||  ||  ||  || 96.37 || 161.0 || 168.8 || 174.4 || 180.7 || 225.0 || 222.3 || 239.8 || 260.2 || 259.0 || 251.2 || 241.4 || 234.6 || 243.4 || 252.5 || 256.1 || 257.0 || 255.4 || 271.0 || 293.7
|}
<small>'''Note''': Financial data in billions of US dollars and employee data in thousands. For years 1998, 1999, and 2000 figures are combined for Chase Manhattan and J.P. Morgan & Co., for consistency, pre-dating their official merger in 2000. The data is sourced from the company's SEC Form 10-K from 1998 to 2020.'''<ref name="AR2004">{{Cite web |date=March 2, 2005 |title=Annual Report 2004 (SEC Filing Form 10-K) |url=https://www.sec.gov/Archives/edgar/data/19617/000095012305002539/y05475e10vk.htm |url-status=live |archive-url=https://web.archive.org/web/20200802180456/https://www.sec.gov/Archives/edgar/data/19617/000095012305002539/y05475e10vk.htm |archive-date=August 2, 2020 |access-date=October 18, 2018 |publisher=JPMorgan Chase & Co. |language=en}}</ref><ref name="AR2007">{{Cite web |date=February 29, 2008 |title=Annual Report 2007 (SEC Filing Form 10-K) |url=https://www.sec.gov/Archives/edgar/data/19617/000119312508043536/d10k.htm |url-status=live |archive-url=https://web.archive.org/web/20181019122017/https://www.sec.gov/Archives/edgar/data/19617/000119312508043536/d10k.htm |archive-date=October 19, 2018 |access-date=October 18, 2018 |publisher=JPMorgan Chase & Co. |language=en}}</ref><ref name="AR2012">{{Cite web |date=February 28, 2013 |title=Annual Report 2012 (SEC Filing Form 10-K) |url=https://www.sec.gov/Archives/edgar/data/19617/000001961713000221/corp10k2012.htm |url-status=live |archive-url=https://web.archive.org/web/20201027223427/https://www.sec.gov/Archives/edgar/data/19617/000001961713000221/corp10k2012.htm |archive-date=October 27, 2020 |access-date=October 18, 2018 |publisher=JPMorgan Chase & Co. |language=en}}</ref><ref name="AR2015">{{Cite web |date=February 23, 2016 |title=Annual Report 2015 (SEC Filing Form 10-K) |url=https://www.sec.gov/Archives/edgar/data/19617/000001961716000902/corp10k2015.htm |url-status=live |archive-url=https://web.archive.org/web/20170201233934/https://www.sec.gov/Archives/edgar/data/19617/000001961716000902/corp10k2015.htm |archive-date=February 1, 2017 |access-date=June 8, 2016 |publisher=JPMorgan Chase & Co. |language=en}}</ref><ref name="AR2017">{{Cite web |date=February 27, 2018 |title=Annual Report 2017 (SEC Filing Form 10-K) |url=https://www.sec.gov/Archives/edgar/data/19617/000001961718000057/corp10k2017.htm |url-status=live |archive-url=https://web.archive.org/web/20200523155523/https://www.sec.gov/Archives/edgar/data/19617/000001961718000057/corp10k2017.htm |archive-date=May 23, 2020 |access-date=October 17, 2018 |publisher=JPMorgan Chase & Co. |language=en}}</ref><ref>{{Cite web |date=February 26, 2019 |title=Annual Report 2018 (SEC Filing Form 10-K) |url=https://www.sec.gov/Archives/edgar/data/19617/000001961719000054/corp10k2018.htm |url-status=live |archive-url=https://web.archive.org/web/20190904140435/https://www.sec.gov/Archives/edgar/data/19617/000001961719000054/corp10k2018.htm |archive-date=September 4, 2019 |access-date=September 4, 2019 |publisher=JPMorgan Chase & Co.}}</ref><ref>{{Cite web |date=April 7, 2021 |title=Annual Report 2020 (JPMorgan Chase & Co. Annual Report) |url=https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/annualreport-2020.pdf |url-status=live |archive-url=https://web.archive.org/web/20210516123722/https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/annualreport-2020.pdf |archive-date=May 16, 2021 |access-date=May 18, 2021 |publisher=JPMorgan Chase & Co.}}</ref>'''<ref name="AR2002">{{Cite web |date=March 19, 2003 |title=Annual Report 2002 (SEC Filing Form 10-K) |url=https://www.sec.gov/Archives/edgar/data/19617/000095012303002985/y83354e10vk.htm |url-status=live |archive-url=https://web.archive.org/web/20200802171853/https://www.sec.gov/Archives/edgar/data/19617/000095012303002985/y83354e10vk.htm |archive-date=August 2, 2020 |access-date=October 18, 2018 |publisher=JPMorgan Chase & Co. |language=en}}</ref></small>

== Structure ==
The corporate structure of JPMorgan Chase & Co. has changed throughout its history through various mergers and acquisitions as well as geographic expansion. In the United States, it owns and operates two key legal subsidiaries:<ref>{{Cite web |title=JPMorgan Chase & Co. |url=http://www2.fdic.gov/idasp/index.asp |url-status=dead |archive-url=https://web.archive.org/web/20111113074521/http://www2.fdic.gov/IDASP/index.asp |archive-date=November 13, 2011 |access-date=November 12, 2011 |publisher=Federal Deposit Insurance Corp. |format=database }}</ref>
* Chase Bank
* JPMorgan Securities, LLC.

The modern JPMorgan Chase is broken up into the following four business segments:<ref>{{Cite web |title=JPMorgan Chase & Co. |url=https://www.sec.gov/Archives/edgar/data/19617/000001961713000354/corpq22013.htm |url-status=live |archive-url=https://web.archive.org/web/20201111163707/https://www.sec.gov/Archives/edgar/data/19617/000001961713000354/corpq22013.htm |archive-date=November 11, 2020 |access-date=October 15, 2014 |publisher=SEC}}</ref>
* Asset and Wealth Management (J.P. Morgan)
* Consumer and Community Banking (Chase)
* Corporate and Investment banking (J.P. Morgan)
* Commercial Banking (Chase)

=== JPMorgan Europe, Ltd. ===

The company, known previously as Chase Manhattan International Limited, was founded on September 18, 1968.<ref>[http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=4664205 "Company Overview of J.P. Morgan Europe Limited"] {{Webarchive|url=https://web.archive.org/web/20130801120305/http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=4664205 |date=August 1, 2013 }}. ''Bloomberg Businessweek''. Retrieved June 7, 2012.</ref><ref>[http://www.companiesintheuk.co.uk/ltd/jp-morgan-europe "J.P. Morgan Europe Limited"] {{Webarchive|url=https://web.archive.org/web/20200929142937/http://www.companiesintheuk.co.uk/ltd/jp-morgan-europe |date=September 29, 2020 }}. ''Companies in the U.K.'' Retrieved June 7, 2012</ref> In August 2008, the bank announced plans to construct a new European headquarters at Canary Wharf, London.<ref>{{Cite news |date=August 1, 2008 |title=Bloomberg: JPMorgan to Move European Head Office to Canary Wharf |url=https://www.bloomberg.com/apps/news?pid=20601102&sid=a.938AxCO1mU&refer=uk |url-status=dead |archive-url=https://web.archive.org/web/20100321165747/http://www.bloomberg.com/apps/news?pid=20601102 |archive-date=March 21, 2010}}</ref> These plans were subsequently suspended in December 2010, when the bank announced the purchase of a nearby existing office tower at 25 Bank Street for use as the European headquarters of its investment bank.<ref>{{Cite news |last=Wearden |first=Graeme |date=December 10, 2010 |title=JPMorgan sticks with London by buying Lehman HQ |work=The Guardian |location=London |url=https://www.theguardian.com/business/2010/dec/20/jp-morgan-lehman-brothers-canary-wharf |url-status=live |access-date=December 11, 2016 |archive-url=https://web.archive.org/web/20201109042514/http://www.theguardian.com/business/2010/dec/20/jp-morgan-lehman-brothers-canary-wharf |archive-date=November 9, 2020}}</ref> 25 Bank Street had originally been designated as the European headquarters of [[Company:Enron|Enron]] and was subsequently used as the headquarters of Lehman Brothers International.{{Importance inline|date=January 2023}} The regional office is in London with offices in Bournemouth, Glasgow, and [[Place:Edinburgh|Edinburgh]] for [[Social:Asset management|asset management]], private banking, and investment banking.<ref>{{Cite web |title=J. P. Morgan Europe Ltd. |url=http://www.cylex-uk.co.uk/company/j-p-morgan-europe-ltd--16847575.html |url-status=dead |archive-url=https://web.archive.org/web/20130325142359/http://www.cylex-uk.co.uk/company/j-p-morgan-europe-ltd--16847575.html |archive-date=March 25, 2013 |access-date=June 7, 2012}}</ref>

=== Acquisition history ===
The following is an illustration of the company's major mergers and acquisitions and historical predecessors, although this is not a comprehensive list:
{{Tree list}}
* JPMorgan&nbsp;Chase & Co.
** JPMorgan Chase <small>(merged&nbsp;2000</small>)
*** Chase&nbsp;Manhattan&nbsp;Bank <small>(merged&nbsp;1996</small>)<ref>[http://www.jpmorganchase.com/corporate/About-JPMC/document/shorthistory.pdf ''The History of JPMorgan Chase & Co.: 200 Years of Leadership in Banking''] {{Webarchive|url=https://web.archive.org/web/20110927133631/http://www.jpmorganchase.com/corporate/About-JPMC/document/shorthistory.pdf |date=September 27, 2011 }}, company-published booklet, 2008, p. 19. Retrieved July 15, 2010.</ref>
**** Chemical&nbsp;Bank <small>(merged&nbsp;1996)</small>
***** Chemical&nbsp;Bank <small>(reorganized&nbsp;1988)</small>
****** The Chemical Bank of New York <small>(est.&nbsp;1823)</small>
****** Citizens National Bank <small>(est. 1851, acq. 1920)</small>
****** Corn Exchange Bank <small>(est. 1852, acq. 1954)</small>
****** New York Trust Company <small>(acq. 1959)</small>
****** Texas Commerce Bank <small>(est. 1866, acq. 1986)</small><ref>[http://www.jpmorganchase.com/corporate/About-JPMC/document/shorthistory.pdf ''The History of JPMorgan Chase & Co.: 200 Years of Leadership in Banking''] {{Webarchive|url=https://web.archive.org/web/20110927133631/http://www.jpmorganchase.com/corporate/About-JPMC/document/shorthistory.pdf |date=September 27, 2011 }}, company-published booklet, 2008, p. 6. Union National Bank and National Bank of Commerce in
Houston were predecessor banks to TCB. Retrieved July 15, 2010.</ref>
***** Manufacturers Hanover <small>(merged&nbsp;1961</small>)
****** Manufacturers Trust Company <small>(est.&nbsp;1905)</small><ref>{{Cite web|url=http://www.jpmorganchase.com/corporate/About-JPMC/document/shorthistory.pdf|title=''The History of JPMorgan Chase & Co.: 200 Years of Leadership in Banking''}}</ref>
****** Hanover Bank <small>(est. 1873)</small>
**** Chase Manhattan&nbsp;Bank <small>(merged 1955)</small>
***** The Bank of the Manhattan Company <small>(est. 1799</small>)
***** Chase National Bank of the City of New York <small>(est. 1877</small>)<ref>[http://www.jpmorganchase.com/corporate/About-JPMC/document/shorthistory.pdf ''The History of JPMorgan Chase & Co.: 200 Years of Leadership in Banking''] {{Webarchive|url=https://web.archive.org/web/20110927133631/http://www.jpmorganchase.com/corporate/About-JPMC/document/shorthistory.pdf |date=September 27, 2011 }}, company-published booklet, 2008. Founder John Thompson named the bank in honor of his late friend, Salmon P. Chase. Retrieved July 15, 2010.</ref>
*** J.P. Morgan & Co. (formerly Morgan Guaranty Trust) <small>(merged 1959)</small>
**** Guaranty Trust Company of New York <small>(est. 1866)</small>
**** J.P. Morgan & Co.<ref>Other Successors to the break-up of The House of Morgan: Morgan Stanley and Morgan, Grenfell & Co.</ref> <small>(est. 1895</small>)<ref>{{Cite web |title=''The History of JPMorgan Chase & Co.: 200 Years of Leadership in Banking'', company-published booklet, 2008, p. 5. Predecessor to J.P. Morgan & Co. was Drexel, Morgan & Co., est. 1871. Retrieved July 15, 2010. Other predecessors include Dabney, Morgan & Co. and J.S. Morgan & Co. |url=http://www.jpmorganchase.com/corporate/About-JPMC/document/shorthistory.pdf |url-status=live |archive-url=https://web.archive.org/web/20110927133631/http://www.jpmorganchase.com/corporate/About-JPMC/document/shorthistory.pdf |archive-date=September 27, 2011 |access-date=July 15, 2010}}</ref>
** Bank One <small>(merged 2004</small>)
*** Banc&nbsp;One&nbsp;Corp.<ref>[http://www.jpmorganchase.com/corporate/About-JPMC/document/shorthistory.pdf ''The History of JPMorgan Chase & Co.: 200 Years of Leadership in Banking''] {{Webarchive|url=https://web.archive.org/web/20110927133631/http://www.jpmorganchase.com/corporate/About-JPMC/document/shorthistory.pdf |date=September 27, 2011 }}, company-published booklet, 2008, p. 3. The Marine Corp. merged in 1988 with BancOne. George Smith founded the Wisconsin Marine and Fire Insurance Co. in 1839, the predecessor company. Retrieved July 15, 2010.</ref> <small>(merged&nbsp;1968)</small>
**** City National Bank & Trust Company
**** Farmers Saving & Trust Company
*** First&nbsp;Chicago&nbsp;NBD <small>(merged 1995)</small>
**** First Chicago Corp. <small>(est. 1863)</small>
**** NBD Bancorp. (formerly National Bank of Detroit) <small>(est. 1933)</small>
*** Louisiana's First Commerce Corp.
** Bear Stearns <small>(est. 1923; acq. 2008)</small><ref>On March 18, 2008, JPMorgan Chase announced the acquisition of Bear Stearns for $236&nbsp;million, $2.00 per share. On March 24, 2008, a revised offer was announced at approximately $10 per share</ref>
** Washington Mutual <small>(acq. 2008)</small><ref>On September 25, 2008, JPMorgan Chase announced the acquisition of Washington Mutual for $1.8&nbsp;billion.</ref>
*** Washington Mutual <small>(founded 1889)</small>
*** Great Western Bank <small>(acq. 1997)</small>
*** H. F. Ahmanson & Co. <small>(acq. 1998)</small>
*** Bank United of Texas <small>(acq. 2001)</small>
*** Dime Bancorp, Inc. <small>(acq. 2002)</small>
*** Providian Financial <small>(acq. 2005)</small>

{{Tree list/end}}

== Political contributions ==
JPMorgan Chase's [[Social:Political action committee|PAC]] and its employees contributed $2.6&nbsp;million to federal campaigns in 2014 and financed its lobbying team with $4.7&nbsp;million in the first three-quarters of 2014. JPMorgan's giving has been focused on Republicans, with 62 percent of its donations going to GOP recipients in 2014. 78 House Democrats received campaign cash from JPMorgan's PAC in the 2014 cycle at an average of $5,200 and a total of 38 of the Democrats who voted for the 2015 spending bill took money from JPMorgan's PAC in 2014. JPMorgan Chase's PAC made maximum donations to the Democratic Congressional Campaign Committee and the leadership PACs of Steny Hoyer and Jim Himes in 2014.<ref name="crp">{{Cite web |last=Choma |first=Russ |date=December 12, 2014 |title=Wall Street's Omnibus Triumph, and Others |url=http://www.opensecrets.org/news/2014/12/wall-streets-omnibus-triumph-and-others/ |url-status=live |archive-url=https://web.archive.org/web/20201111222422/http://www.opensecrets.org/news/2014/12/wall-streets-omnibus-triumph-and-others/ |archive-date=November 11, 2020 |access-date=December 19, 2014 |publisher=The Center for Responsible Politics}}</ref>

== Climate change ==
JPMorgan has come under criticism for investing in new fossil fuels projects since the Paris climate change agreement. From 2016 to the first half of 2019 it provided $75&nbsp;billion (£61&nbsp;billion) to companies expanding in sectors such as fracking and [[Earth:Petroleum exploration in the Arctic|Arctic oil and gas exploration]].<ref>{{Cite news |last=Greenfield |first=Patrick |date=October 13, 2019 |title=Top investment banks provide billions to expand fossil fuel industry |language=en-GB |work=The Guardian |url=https://www.theguardian.com/environment/2019/oct/13/top-investment-banks-lending-billions-extract-fossil-fuels |url-status=live |access-date=October 30, 2019 |archive-url=https://web.archive.org/web/20210223061732/https://www.theguardian.com/environment/2019/oct/13/top-investment-banks-lending-billions-extract-fossil-fuels |archive-date=February 23, 2021 |issn=0261-3077}}</ref> According to Rainforest Action Network its total fossil fuel financing was $64&nbsp;billion in 2018, $69&nbsp;billion in 2017 and $62&nbsp;billion in 2016.<ref>{{Cite web |title=Banking on Climate Change 2019 |url=https://www.ran.org/bankingonclimatechange2019/ |url-status=live |archive-url=https://web.archive.org/web/20210129111221/https://www.ran.org/bankingonclimatechange2019/ |archive-date=January 29, 2021 |access-date=March 25, 2020 |website=Rainforest Action Network}}</ref> From 2015, which is when the Paris Agreement was adopted, until 2021, JP Morgan Chase provided $317&nbsp;billion in fossil fuel financing; 33% more than any other bank.<ref>{{Cite web |date=October 27, 2021 |title=The dirty dozen: meet America's top climate villains |url=https://www.theguardian.com/commentisfree/2021/oct/27/climate-crisis-villains-americas-dirty-dozen |access-date=May 8, 2022 |website=the Guardian |language=en}}</ref> On October 21, 2021, JP Morgan Chase joined the Net-Zero Banking Alliance,<ref>{{Cite web |title=Members – Net-Zero Banking Alliance |url=https://www.unepfi.org/net-zero-banking/members/ |access-date=October 30, 2022 |website=United Nations Environment Programme Finance Initiative |language=en-GB}}</ref> which supports "the global transition of the [[Finance:Real economy|real economy]] to net-zero emissions."<ref>{{Cite web |title=The Commitment – Net-Zero Banking Alliance |url=https://www.unepfi.org/net-zero-banking/commitment/ |access-date=October 30, 2022 |website=United Nations Environment Programme Finance Initiative |language=en-GB}}</ref>

An internal study, 'Risky business: the climate and macroeconomy', by bank economists David Mackie and Jessica Murray was leaked in early{{nbhyph}}2020.{{Importance inline|date=January 2023}} The report, dated 14{{nbsp}}January 2020, states that under our current unsustainable trajectory of [[Earth:Climate change|climate change]] "we cannot rule out catastrophic outcomes where human life as we know it is threatened". JPMorgan subsequently distanced itself from the content of the study.<ref name="greenfield-and-watts-2020">{{Cite news |last1=Greenfield |first1=Patrick |last2=Watts |first2=Jonathan |date=February 21, 2020 |title=JP Morgan economists warn climate crisis is threat to human race |work=The Guardian |location=London, United Kingdom |url=https://www.theguardian.com/environment/2020/feb/21/jp-morgan-economists-warn-climate-crisis-threat-human-race |url-status=live |access-date=February 23, 2020 |archive-url=https://web.archive.org/web/20210222065505/https://www.theguardian.com/environment/2020/feb/21/jp-morgan-economists-warn-climate-crisis-threat-human-race |archive-date=February 22, 2021 |issn=0261-3077}}</ref>

In May 2023, JPMorgan Chase announced that it would purchase $200&nbsp;million in carbon credits representing 800,000 metric tons of [[Earth:Carbon dioxide removal|carbon dioxide removal]] (CDR) from multiple companies (including Climeworks and Charm Industrial) after announcing the previous month that it would join the Frontier CDR initiative formed by Alphabet Inc., McKinsey & Company, [[Company:Meta Platforms|Meta Platforms]], [[Company:Shopify|Shopify]], and [[Company:Stripe, Inc.|Stripe, Inc.]] under a $925&nbsp;million advance market commitment to the CDR industry the previous year.{{refn|group=list|name=CDR purchase|<ref>{{cite news|last=Ramkumar|first=Amrith|date=May 23, 2023|title=JPMorgan Makes One of the Biggest Bets Ever on Carbon Removal|work=The Wall Street Journal|publisher=News Corp|url=https://www.wsj.com/articles/jpmorgan-makes-one-of-the-biggest-bets-ever-on-carbon-removal-c7d5fe63|access-date=May 23, 2023}}</ref><ref>{{cite news|last=Clifford|first=Catherine|date=May 23, 2023|title=JPMorgan agrees to purchase $200 million worth of carbon removal|publisher=CNBC|url=https://www.cnbc.com/2023/05/23/jpmorgan-agrees-to-purchase-200-million-worth-of-carbon-removal.html|access-date=May 23, 2023}}</ref><ref>{{cite news|last=Clifford|first=Catherine|date=April 12, 2023|title=JPMorgan and H&M join tech giants in buying $1 billion of carbon dioxide removal|publisher=CNBC|url=https://www.cnbc.com/2023/04/12/jpmorgan-hm-workday-join-frontier-co2-removal-program.html|access-date=May 23, 2023}}</ref><ref>{{cite news|last=Brigham|first=Katie|date=June 28, 2022|title=Why Big Tech is pouring money into carbon removal|publisher=CNBC|url=https://www.cnbc.com/2022/06/28/why-companies-like-stripe-meta-and-alphabet-are-behind-carbon-removal.html|access-date=July 6, 2022}}</ref><ref>{{cite news|last=Brabant|first=Malcolm|title=To combat climate change, these scientists are turning CO2 into rock|date=August 23, 2016|work=PBS NewsHour|publisher=WETA-TV|url=https://www.pbs.org/newshour/show/combat-climate-change-scientists-turning-co2-rock|access-date=July 18, 2022}}</ref><ref>{{cite news|last=Clifford|first=Catherine|date=June 28, 2022|title=From milligrams to gigatons: Startup that sucks carbon dioxide from the air is building a big plant in Iceland|publisher=CNBC|url=https://www.cnbc.com/2022/06/28/climeworks-carbon-dioxide-removal-company-building-iceland-plant.html|access-date=November 27, 2022}}</ref>}}

== Offices ==
Although the old Chase Manhattan Bank's headquarters were at One Chase Manhattan Plaza (now 28 Liberty Street) in Lower Manhattan, the current temporary world headquarters for JPMorgan Chase & Co. are located at 383 Madison Avenue. In 2018, JPMorgan announced they would demolish the current headquarters building at 270 Park Avenue, which was Union Carbide's former headquarters, to make way for a newer building at 270 Park Avenue that will be {{convert|681|ft|m}} taller than the previous building. Demolition was completed in the spring of 2021, and the new building will be completed in 2025. The replacement {{convert|1388|ft|m}} and 70-story headquarters will contain {{convert|2500000|sqft|m2}}, and will be able to fit 15,000 employees, whereas the current building fits 6,000 employees in a space that has a capacity of 3,500. The new headquarters is part of the East Midtown rezoning plan.<ref>{{Cite news |last=Bagli |first=Charles V. |date=February 21, 2018 |title=Out With the Old Building, in With the New for JPMorgan Chase |language=en-US |work=The New York Times |url=https://www.nytimes.com/2018/02/21/nyregion/jpmorgan-chase-headquarters.html |url-status=live |access-date=June 18, 2018 |archive-url=https://web.archive.org/web/20201109041612/https://www.nytimes.com/2018/02/21/nyregion/jpmorgan-chase-headquarters.html |archive-date=November 9, 2020 |issn=0362-4331}}</ref> When construction is completed in 2025, the headquarters will then move back into the new building at 270 Park Avenue. As the new headquarters is replaced, the bulk of North American operations take place in five nearby buildings on or near Park Avenue in New York City: the former Bear Stearns Building at 383 Madison Avenue (just south of 270 Park Avenue), the former Chemical Bank Building at 277 Park Avenue just to the east, 237 Park Avenue, and 390 Madison Avenue.

Approximately 11,050 employees are located in Columbus at the McCoy Center, the former Bank One Corporation offices. The building is the largest JPMorgan Chase & Co. facility in the world and the second-largest single-tenant office building in the United States behind The Pentagon.<ref name="dispatch">{{Cite web |title=Chase thriving in region |url=https://www.dispatch.com/article/20080824/NEWS/308249675 |url-status=live |archive-url=https://web.archive.org/web/20210420212703/https://www.dispatch.com/article/20080824/NEWS/308249675 |archive-date=April 20, 2021 |access-date=April 20, 2021 |website=The Columbus Dispatch}}</ref> The bank moved some of its operations to the JPMorgan Chase Tower in Houston, when it purchased Texas Commerce Bank.{{citation needed|date=March 2022}} The Global Corporate Bank's main headquarters are in [[Place:London|London]], with regional headquarters in Hong Kong, New York and São Paulo.<ref>{{Cite web |title=Global Corporate Bank &#124; Global Capabilities |url=http://www.jpmorgan.com/pages/jpmorgan/gcb/capabilities |url-status=live |archive-url=https://web.archive.org/web/20151017122541/https://www.jpmorgan.com/pages/jpmorgan/gcb/capabilities |archive-date=October 17, 2015 |access-date=April 13, 2013 |publisher=J.P. Morgan}}</ref>

The Card Services division has its headquarters in Wilmington, Delaware, with Card Services offices in Elgin, Illinois; Springfield, Missouri; San Antonio, Texas; {{wipe|Mumbai}}, India; and [[Place:Cebu City|Cebu, Philippines]]. Additional large operation centers are located in Phoenix, Arizona; {{wipe|Los Angeles}}, California, Newark, Delaware; Orlando, Florida; Tampa, Florida; Jacksonville, Florida; Brandon, Florida; [[Place:Indianapolis|Indianapolis]], Indiana; Louisville, Kentucky; Brooklyn, New York; Rochester, New York; Columbus, Ohio; Dallas, Texas; Fort Worth, Texas; Plano, Texas; and Milwaukee, Wisconsin. Operation centers in Canada are located in Burlington, Ontario; and Toronto, Ontario.

Additional offices and technology operations are located in [[Place:Manila|Manila]], Philippines; [[Place:Cebu City|Cebu, Philippines]]; {{wipe|Mumbai}}, India; Bangalore, India; [[Place:Hyderabad|Hyderabad]], India; [[Place:New Delhi|New Delhi]], India; [[Place:Buenos Aires|Buenos Aires]], Argentina; São Paulo; [[Place:Mexico City|Mexico City]], Mexico, and [[Place:Jerusalem|Jerusalem]], Israel. In late 2017, JPMorgan Chase opened a new global operations center in [[Place:Warsaw|Warsaw]], {{wipe|Poland}}.<ref>{{Cite news |title=JPMorgan to hire more than 3,000 people in new operations center in Poland |publisher=Muslim Global |url=http://www.muslimglobal.com/2017/09/jpmorgan-to-hire-more-than-3000-people.html |url-status=live |access-date=September 26, 2017 |archive-url=https://web.archive.org/web/20180618025804/http://www.muslimglobal.com/2017/09/jpmorgan-to-hire-more-than-3000-people.html |archive-date=June 18, 2018}}</ref> The Asia Pacific headquarters for JPMorgan is located in [[Place:Hong Kong|Hong Kong]] at Chater House.{{citation needed|date=March 2022}}

Operations centers in the United Kingdom are located in Bournemouth, Edinburgh, Glasgow, London, Liverpool, and Swindon. The London location also serves as the European headquarters.

=== Gallery ===
<gallery align="center" widths="150" heights="200">
File:383 Madison Ave Bear Stearns C R Flickr 1.jpg|JPMorgan Chase Temporary World Headquarters<br />383 Madison Avenue<br />New York City
File:270 Park Avenue Photomontage.jpg|JPMorgan Chase World Headquarters (under construction)<br />270 Park Avenue<br />New York City
File:277parkave.jpg|277 Park Avenue<br />New York City
File:One Chase Manhattan Plaza 1.jpg|alt=28 Liberty Street, New York City|28 Liberty Street<br />New York City
File:Chase Tower 060514.jpg|Chase Tower<br />Chicago, Illinois
File:JP MorganChase Building.jpg|JPMorgan Chase Building<br />San Francisco, California
File:JPMorganChaseTower.png|Chase Tower<br />Dallas, Texas
File:PhxTallest1.jpg|Chase Tower<br />Phoenix, Arizona
File:Chase Tower, a block away.jpg|JPMorgan Chase Tower<br />Houston, Texas
File:25 Bank Street 2012.JPG|25 Bank Street<br />London, United Kingdom
File:JP Morgan Tower, Hyderabad, India.jpg|alt=|JPMorgan Chase & Co. Tower <br />[[Place:Hyderabad|Hyderabad]], Telangana, {{wipe|India}}
</gallery>

== Credit derivatives ==
The derivatives team at JPMorgan, led by Blythe Masters, was a pioneer in the invention of [[Finance:Credit derivative|credit derivative]]s such as the [[Finance:Credit default swap|credit default swap]]. The first CDS was created to allow Exxon to borrow money from JPMorgan while JPMorgan transferred the risk to the European Bank of Reconstruction and Development. JPMorgan's team later created the 'BISTRO', a bundle of credit default swaps that was the progenitor of the [[Finance:Synthetic CDO|Synthetic CDO]].<ref>Fool's Gold, by Gillian Tett, Free Press, 2009.</ref><ref>Structured Finance and Collateralized Debt Obligations 2nd ed, Janet Tavakoli, 2008, Wiley</ref> As of 2013 JPMorgan had the largest credit default swap and credit derivatives portfolio by total notional amount of any US bank.<ref>{{Cite web |title=Chase Locations and Reviews |url=http://www.knowyourbank.com/jpmorgan-chase/4521/ |url-status=dead |archive-url=https://web.archive.org/web/20130525033610/http://www.knowyourbank.com/jpmorgan-chase/4521/ |archive-date=May 25, 2013 |access-date=April 13, 2013 |publisher=Knowyourbank}}</ref><ref>{{Cite web |title=OCC's Quarterly Report on Bank Trading and Derivatives Activities Fourth Quarter 2011 |url=http://www.occ.treas.gov/topics/capital-markets/financial-markets/trading/derivatives/dq411.pdf |url-status=live |archive-url=https://web.archive.org/web/20210126031347/https://www.occ.treas.gov/topics/capital-markets/financial-markets/trading/derivatives/dq411.pdf |archive-date=January 26, 2021 |access-date=August 23, 2012}}</ref>

=== 2012 CDS trading loss ===
{{Main|Finance:2012 JPMorgan Chase trading loss}}
In April 2012, hedge fund insiders became aware that the market in credit default swaps was possibly being affected by the activities of [[Finance:2012 JPMorgan Chase trading loss|Bruno Iksil]], a trader for JPMorgan Chase & Co., referred to as "the London whale" in reference to the huge positions he was taking. Heavy opposing bets to his positions are known to have been made by traders, including another branch of J.P. Morgan, who purchased the derivatives offered by J.P. Morgan in such high volume.<ref>{{Cite news |last1=Zuckerman |first1=Gregory |last2=Burne |first2=Katy |date=April 6, 2012 |title={{-'}}London Whale' Rattles Debt Market |work=The Wall Street Journal |url=https://www.wsj.com/articles/SB10001424052702303299604577326031119412436 |url-status=live |access-date=August 12, 2017 |archive-url=https://web.archive.org/web/20201125144133/https://www.wsj.com/articles/SB10001424052702303299604577326031119412436 |archive-date=November 25, 2020}}</ref><ref name="NYTLR">{{Cite news |last=Ahmed |first=Azam |date=May 15, 2012 |title=As One JPMorgan Trader Sold Risky Contracts, Another One Bought Them |work=The New York Times |url=https://dealbook.nytimes.com/2012/05/15/as-one-jpmorgan-trader-sold-risky-contracts-another-one-bought-them/ |url-status=live |access-date=May 16, 2012 |archive-url=https://web.archive.org/web/20210126123557/https://dealbook.nytimes.com/2012/05/15/as-one-jpmorgan-trader-sold-risky-contracts-another-one-bought-them/ |archive-date=January 26, 2021}}</ref> Early reports were denied and minimized by the firm in an attempt to minimize exposure.<ref name="DealPP">{{Cite news |last=Eisinger |first=Jesse |date=May 16, 2012 |title=In Scrutiny of JPMorgan Loss, Bigger Questions Left Unanswered |work=The New York Times |agency=ProPublica |url=https://dealbook.nytimes.com/2012/05/16/in-scrutiny-of-jpmorgan-loss-bigger-questions-left-unanswered/ |url-status=live |access-date=May 17, 2012 |archive-url=https://web.archive.org/web/20201103235501/https://dealbook.nytimes.com/2012/05/16/in-scrutiny-of-jpmorgan-loss-bigger-questions-left-unanswered/ |archive-date=November 3, 2020}}</ref> Major losses, $2&nbsp;billion, were reported by the firm in May 2012, in relation to these trades and updated to $4.4&nbsp;billion on July 13, 2012.<ref name="NYT071312">{{Cite news |last=Silver-Greenberg |first=Jessica |date=July 13, 2012 |title=JPMorgan Reports Second-Quarter Profit and Will Restate First-Quarter Figures |work=The New York Times |format=Dealbook blog |url=https://dealbook.nytimes.com/2012/07/13/jpmorgan-reports-second-quarter-profit-of-5-billion-down-9/ |url-status=live |access-date=July 13, 2012 |archive-url=https://web.archive.org/web/20210209212002/https://dealbook.nytimes.com/2012/07/13/jpmorgan-reports-second-quarter-profit-of-5-billion-down-9/ |archive-date=February 9, 2021}}</ref> The disclosure, which resulted in headlines in the media, did not disclose the exact nature of the trading involved, which remained in progress as of June 28, 2012, and continued to produce losses which could total as much as $9&nbsp;billion under worst-case scenarios.<ref name="NYT62812">{{Cite news |last1=Silver-Greenberg |first1=Jessica |last2=Craig |first2=Susanne |date=June 28, 2012 |title=JPMorgan Trading Loss May Reach $9 Billion |work=The New York Times |url=https://dealbook.nytimes.com/2012/06/28/jpmorgan-trading-loss-may-reach-9-billion/ |url-status=live |access-date=June 28, 2012 |archive-url=https://web.archive.org/web/20201111201645/https://dealbook.nytimes.com/2012/06/28/jpmorgan-trading-loss-may-reach-9-billion/ |archive-date=November 11, 2020}}</ref><ref name="DealBookUp">{{Cite news |last1=Schwartz |first1=Nelson D. |last2=Silver-Greenberg |first2=Jessica |date=May 16, 2012 |title=JPMorgan's Trading Loss Is Said to Rise at Least 50% |work=The New York Times |url=https://dealbook.nytimes.com/2012/05/16/jpmorgans-trading-loss-is-said-to-rise-at-least-50/ |url-status=live |access-date=May 17, 2012 |archive-url=https://web.archive.org/web/20210221023644/https://dealbook.nytimes.com/2012/05/16/jpmorgans-trading-loss-is-said-to-rise-at-least-50/ |archive-date=February 21, 2021}}</ref> In the end, the trading produced actual losses of only $6&nbsp;billion. The item traded, possibly related to CDX IG 9, [[Finance:Credit default swap index|an index based on the default risk]] of major U.S. corporations,<ref name="WSJwaves">{{Cite news |last=Burne |first=Katy |date=April 10, 2012 |title=Making Waves Against 'Whale' |work=The Wall Street Journal |url=https://www.wsj.com/articles/SB10001424052702304587704577336130953863286 |url-status=live |access-date=May 16, 2012 |archive-url=https://web.archive.org/web/20200805092348/https://www.wsj.com/articles/SB10001424052702304587704577336130953863286 |archive-date=August 5, 2020}}</ref><ref name="eFN">{{Cite news |last=Khalique |first=Farah |date=May 11, 2012 |title=Chart of the Day: London Whale trading |work=Financial News |url=http://www.efinancialnews.com/story/2012-05-11/jpmorgan-iksil-cds-hedgefunds |url-status=live |access-date=May 16, 2012 |archive-url=https://web.archive.org/web/20150924010522/http://www.efinancialnews.com/story/2012-05-11/jpmorgan-iksil-cds-hedgefunds |archive-date=September 24, 2015}}</ref> has been described as a "derivative of a derivative".<ref name="DNBlack">{{Cite news |date=May 15, 2012 |title=Crony Capitalism: After Lobbying Against New Financial Regulations, JPMorgan Loses $2B in Risky Bet |work=Democracy Now! |url=http://www.democracynow.org/2012/5/15/crony_capitalism_after_lobbying_against_new |url-status=live |access-date=May 16, 2012 |archive-url=https://web.archive.org/web/20201112012646/https://www.democracynow.org/2012/5/15/crony_capitalism_after_lobbying_against_new |archive-date=November 12, 2020}}</ref><ref name="DealBook2B">{{Cite news |last1=Silver-Greenberg |first1=Jessica |last2=Eavis |first2=Peter |date=May 10, 2012 |title=JPMorgan Discloses $2 Billion in Trading Losses |work=The New York Times |url=https://dealbook.nytimes.com/2012/05/10/jpmorgan-discloses-significant-losses-in-trading-group/ |url-status=live |access-date=May 16, 2012 |archive-url=https://web.archive.org/web/20201112045008/https://dealbook.nytimes.com/2012/05/10/jpmorgan-discloses-significant-losses-in-trading-group/ |archive-date=November 12, 2020}}</ref> On the company's emergency conference call, JPMorgan Chase chairman and CEO Jamie Dimon said the strategy was "flawed, complex, poorly reviewed, poorly executed, and poorly monitored".<ref>[http://ftalphaville.ft.com/blog/2012/05/14/998601/two-billion-dollar-hedge/ "Two Billion Dollar Hedge"]''Financial Times''. {{registration required}} {{Webarchive|url=https://web.archive.org/web/20120911005731/http://ftalphaville.ft.com/blog/2012/05/14/998601/two-billion-dollar-hedge/ |date=September 11, 2012 }}</ref> The episode was investigated by the Federal Reserve, the SEC, and the FBI.<ref>[https://www.forbes.com/sites/halahtouryalai/2012/05/15/more-bad-news-for-jpm-as-fbi-gets-involved/ "More Bad News as FBI gets involved"] {{Webarchive|url=https://web.archive.org/web/20210116144800/https://www.forbes.com/sites/halahtouryalai/2012/05/15/more-bad-news-for-jpm-as-fbi-gets-involved/ |date=January 16, 2021 }} ''Forbes''.</ref>
{| class="wikitable sortable floatright"
|+ Fines levied regarding the 2012 JPMorgan Chase trading loss<ref name="BBC_whale1">{{Cite web |date=September 19, 2013 |title=JPMorgan makes $920m London Whale payout to regulators |url=https://www.bbc.co.uk/news/business-24159801 |url-status=live |archive-url=https://web.archive.org/web/20201111234548/https://www.bbc.co.uk/news/business-24159801 |archive-date=November 11, 2020 |access-date=September 20, 2013 |publisher=BBC}}</ref>
! Regulator !! Nation !! Fine
|-
| Office of the Comptroller of the Currency || rowspan="3"| US || $300m
|-
| Securities and Exchange Commission||  $200m
|-
| Federal Reserve ||   $200m
|-
| Financial Conduct Authority|| UK || £138m ($220m US)
|}
On September 18, 2013, JPMorgan Chase agreed to pay a total of $920&nbsp;million in fines and penalties to American and UK regulators for violations related to the trading loss and other incidents. The fine was part of a multiagency and multinational settlement with the Federal Reserve, Office of the Comptroller of the Currency and the Securities and Exchange Commission in the United States and the Financial Conduct Authority in the UK. The company also admitted breaking American securities law.<ref>[https://www.bloomberg.com/news/2013-09-19/jpmorgan-chase-agrees-to-pay-920-million-for-london-whale-loss.html JPMorgan Pays $920 Million to Settle London Whale Probes] {{Webarchive|url=https://web.archive.org/web/20150110054550/http://www.bloomberg.com/news/2013-09-19/jpmorgan-chase-agrees-to-pay-920-million-for-london-whale-loss.html |date=January 10, 2015 }}. Bloomberg. Retrieved December 6, 2013.</ref> The fines amounted to the third biggest banking fine levied by US regulators, and the second-largest by UK authorities.<ref name="BBC_whale1" /> {{As of|2013|9|19|df=US}}, two traders face criminal proceedings.<ref name="BBC_whale1" /> It is also the first time in several years that a major American financial institution has publicly admitted breaking the securities laws.<ref>Gandel, Stephen. [http://finance.fortune.cnn.com/2013/09/20/sec-jpmorgan-london-whale Did the SEC let JPMorgan off the hook?] {{webarchive|url=https://web.archive.org/web/20130922050509/http://finance.fortune.cnn.com/2013/09/20/sec-jpmorgan-london-whale/ |date=September 22, 2013 }}. Fortune, September 20, 2013.</ref>

A report by the SEC was critical of the level of oversight from senior management on traders, and the FCA said the incident demonstrated "flaws permeating all levels of the firm: from portfolio level right up to senior management."<ref name="BBC_whale1" /> On the day of the fine, the BBC reported from the [[Company:New York Stock Exchange|New York Stock Exchange]] that the fines "barely registered" with traders there, the news had been an expected development, and the company had prepared for the financial hit.<ref name="BBC_whale1" />

== Art collection ==
The collection was begun in 1959 by David Rockefeller,<ref>jpmorganchase – July 31, 2007 [http://investor.shareholder.com/jpmorganchase/releasedetail.cfm?releaseid=257378 release id :257378] {{Webarchive|url=https://web.archive.org/web/20120511200441/http://investor.shareholder.com/jpmorganchase/releasedetail.cfm?releaseid=257378 |date=May 11, 2012 }} – [http://www.jpmorgan.com/pages/jpmorgan/about/art about/art] {{Webarchive|url=https://web.archive.org/web/20120307202050/http://www.jpmorgan.com/pages/jpmorgan/about/art |date=March 7, 2012 }} & [http://www.jpmorganchase.com/corporate/About-JPMC/jpmorgan-art-collection.htm About-JPMC] {{Webarchive|url=https://web.archive.org/web/20120115100253/http://www.jpmorganchase.com/corporate/About-JPMC/jpmorgan-art-collection.htm |date=January 15, 2012 }}. Retrieved February 3, 2012</ref> and comprises over 30,000 objects, of which over 6,000 are photographic-based,<ref>''La Lettre (de la photographie)'' [http://lalettredelaphotographie.com/entries/4727/ entries/4727] {{Webarchive|url=https://web.archive.org/web/20170721165834/http://lalettredelaphotographie.com/entries/4727/ |date=July 21, 2017 }}. Retrieved February 4, 2012</ref> as of 2012 containing more than one hundred works by Middle Eastern and North African artists.<ref>{{Cite web |title=J.P. Morgan Home – J.P. Morgan |url=http://www.jpmorgan.com/pages/jpmorgan/emea/local/mena/art |url-status=live |archive-url=https://web.archive.org/web/20150919010402/https://www.jpmorgan.com/pages/jpmorgan/emea/local/mena/art |archive-date=September 19, 2015 |access-date=November 12, 2017 |website=Jpmorgan.com}}</ref> The One Chase Manhattan Plaza building was the original location at the start of collection by the Chase Manhattan Bank, the current collection containing both this and also those works that the First National Bank of Chicago had acquired prior to assimilation into the JPMorgan Chase organization.<ref>{{Cite web |last=Bridges, Steven |date=May 25, 2010 |title=Spotlight: JPMorgan Chase Art Collection |url=http://chicagoartcollector.com/2010/05/25/the-jpmorgan-chase-art-collection/ |archive-url=https://web.archive.org/web/20101214052153/http://chicagoartcollector.com/2010/05/25/the-jpmorgan-chase-art-collection/ |archive-date=December 14, 2010 |access-date=February 3, 2012 |website=Chicago Art Magazine}}</ref> L. K. Erf has been the director of acquisitions of works since 2004 for the bank,<ref>August 15, 2011 [http://www.christies.com/features/creativity-at-work-lisa-erf-jpmorgan-chase-1669-1.aspx christies] {{Webarchive|url=https://web.archive.org/web/20131016135353/http://www.christies.com/features/creativity-at-work-lisa-erf-jpmorgan-chase-1669-1.aspx |date=October 16, 2013 }}. Retrieved February 3, 2012</ref> whose art program staff is completed by an additional three full-time members and one registrar.<ref>{{Cite web|url=http://www.highbeam.com/doc/1G1-173747578.html|title=An art gallery for the office: Lisa d'Erf, director of the JPMorgan Chase Art Collection, talks to Louise Nicholson about the important role that contemporary art plays in the bank's life, currently highlighted by a travelling exhibition of some of its major works.(Collections & Collecting) (Company overview) – Apollo  |date=May 18, 2013|archive-url=https://web.archive.org/web/20130518223001/http://www.highbeam.com/doc/1G1-173747578.html |archive-date=May 18, 2013 }}</ref> The advisory committee at the time of the Rockefeller initiation included A. H. Barr, and D. Miller, and also J. J. Sweeney, R. Hale, P. Rathbone and G. Bunshaft.<ref>{{Cite web |title=JP Morgan Collected Visions |url=http://en.peramuzesi.org.tr/exhibitions/detail_past_exhibitions.aspx?SectionID=If8oZ%2bVzMawlegtVB27WvA%3d%3d&ContentId=ptRObs4IS%2f1hXKZIrSs6hA%3d%3d |url-status=dead |archive-url=https://web.archive.org/web/20120304112114/http://en.peramuzesi.org.tr/exhibitions/detail_past_exhibitions.aspx?SectionID=If8oZ%2BVzMawlegtVB27WvA%3D%3D&ContentID=ptRObs4IS%2F1hXKZIrSs6hA%3D%3D |archive-date=March 4, 2012 |access-date=February 3, 2012 |publisher=Pera Museum}}</ref>

== Major sponsorships ==
* Chase Field (formerly Bank One Ballpark), Phoenix, Arizona – Arizona Diamondbacks, MLB
* Chase Center, {{wipe|San Francisco}}, California – Golden State Warriors, NBA
* Major League Soccer
* Chase Auditorium (formerly Bank One Auditorium) inside of Chase Tower in {{wipe|Chicago}}, Illinois (formerly Bank One Tower)
* The JPMorgan Chase Corporate Challenge, owned and operated by JPMorgan Chase, is the largest corporate road racing series in the world with over 200,000 participants in 12 cities in six countries on five continents. It has been held annually since 1977 and the races range in size from 4,000 entrants to more than 60,000.
* JPMorgan Chase is the official sponsor of the US Open
* J.P. Morgan Asset Management is the Principal Sponsor of the {{wipe|England}} Premiership Rugby 7s Series
* Sponsor of the Jessamine Stakes, a two-year-old fillies horse race at Keeneland, Lexington, Kentucky since 2006.
* Chase Center on the Riverfront in Wilmington, Delaware where Joe Biden accepted his election as President of the United States in 2020.
* European Super League (now-defunct)

== Leadership ==
Jamie Dimon is the chairman and CEO of JPMorgan Chase. The acquisition deal of Bank One in 2004, was designed in part to recruit Dimon to JPMorgan Chase. He became chief executive at the end of 2005.<ref>{{Cite news |last=Flitter |first=Emily |date=2018 |title=Wall Street's Longest-Serving C.E.O. Says He Isn't Going Anywhere |language=en-US |work=The New York Times |url=https://www.nytimes.com/2018/01/29/business/jamie-dimon-jpmorgan-chase.html |url-status=live |access-date=January 30, 2018 |archive-url=https://web.archive.org/web/20201109042705/https://www.nytimes.com/2018/01/29/business/jamie-dimon-jpmorgan-chase.html |archive-date=November 9, 2020 |issn=0362-4331}}</ref> Dimon has been recognized for his leadership during the [[Finance:Financial crisis of 2007–2008|2008 financial crisis]].<ref>{{Cite news |title=Why J.P. Morgan Chase CEO Jamie Dimon Is Among the World's Greatest Leaders |language=en |work=Fortune |url=http://fortune.com/2017/03/25/jpmorgan-chase-jamie-dimon-worlds-greatest-leaders/ |url-status=live |access-date=January 30, 2018 |archive-url=https://web.archive.org/web/20201112034416/https://fortune.com/2017/03/25/jpmorgan-chase-jamie-dimon-worlds-greatest-leaders/ |archive-date=November 12, 2020}}</ref> Under his leadership, JPMorgan Chase rescued two ailing banks during the crisis.<ref>{{Cite news |last=Motley Fool Staff |title=The Secret to Jamie Dimon's Success as CEO of JPMorgan Chase |language=en |work=The Motley Fool |url=https://www.fool.com/investing/2017/08/31/the-secret-to-jamie-dimons-success-as-ceo-of-jpmor.aspx |url-status=live |access-date=January 30, 2018 |archive-url=https://web.archive.org/web/20200802220637/https://www.fool.com/investing/2017/08/31/the-secret-to-jamie-dimons-success-as-ceo-of-jpmor.aspx |archive-date=August 2, 2020}}</ref>

Although Dimon has publicly criticized the American government's strict immigration policies, as of July 2018, his company has $1.6&nbsp;million worth of stocks in Sterling Construction (the company contracted to build a massive wall on the U.S.-Mexico border).<ref>{{Cite web |title=NASDAQ:STRL – Sterling Construction Stock Price, Forecast & Analysis |url=https://www.marketbeat.com/stocks/NASDAQ/STRL/ |url-status=live |archive-url=https://web.archive.org/web/20201125221004/https://www.marketbeat.com/stocks/NASDAQ/STRL/ |archive-date=November 25, 2020 |access-date=October 30, 2019 |website=www.marketbeat.com |language=en}}</ref><ref>{{Cite web |date=April 5, 2018 |title=Jamie Dimon's Fix for Immigration Deadlock: Teach American History and Principles |url=https://observer.com/2018/04/jamie-dimons-immigration-reform-fix/ |url-status=live |archive-url=https://web.archive.org/web/20200802185623/https://observer.com/2018/04/jamie-dimons-immigration-reform-fix/ |archive-date=August 2, 2020 |access-date=October 30, 2019 |website=Observer |language=en}}</ref>{{POV statement|date=January 2023}}

=== Board of directors ===
As of May 1, 2023:<ref>{{Cite web |title=Archived copy |url=https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/annualreport-2020.pdf |url-status=live |archive-url=https://web.archive.org/web/20210516123722/https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/annualreport-2020.pdf |archive-date=May 16, 2021 |access-date=May 18, 2021}}</ref>
* Jamie Dimon, chairman and CEO of JPMorgan Chase
* Linda Bammann, former JPMorgan and Bank One executive
* Steve Burke, chairman of NBCUniversal
* Todd Combs, CEO of GEICO
* James Crown, president of Henry Crown and Company
* Alicia Boler Davis, CEO of Alto Pharmacy
* Timothy Flynn, former chairman and CEO of KPMG
* Alex Gorsky, former CEO and chairman of Johnson & Johnson
* Mellody Hobson, CEO of Ariel Investments
* Michael Neal, CEO of GE Capital
* Phebe Novakovic, chairwoman and CEO of [[Company:General Dynamics|General Dynamics]]
* Virginia Rometty, Executive Chairwoman of [[Company:IBM|IBM]], former chairwoman, president and CEO of [[Company:IBM|IBM]]

=== Senior leadership ===
* Chairman: Jamie Dimon (since January 2007)<ref name="Business Roundtable">{{Cite web |title=Jamie Dimon |url=https://www.businessroundtable.org/about-us/members/jamie-dimon-chairman-and-chief-executive-officer-jpmorgan-chase-co |url-status=live |archive-url=https://web.archive.org/web/20210206202802/https://www.businessroundtable.org/about-us/members/jamie-dimon-chairman-and-chief-executive-officer-jpmorgan-chase-co |archive-date=February 6, 2021 |access-date=December 22, 2020 |website=Business Roundtable}}</ref>
* Chief Executive: Jamie Dimon (since January 2006)<ref name="Business Roundtable" />

==== List of former chairmen ====
# William B. Harrison Jr. (2000–2006)<ref name="JP Morgan Chase Press Release 2006">{{Cite web |date=October 26, 2006 |title=William B. Harrison, Jr. To Retire At Year-End As Chairman Of Jpmorgan Chase; Board Expected To Elect Jamie Dimon To Additional Position Of Chairman |url=https://jpmorganchaseco.gcs-web.com/static-files/4ce12dc4-0d4c-4639-b3a1-95e01417d4fb |url-status=live |archive-url=https://web.archive.org/web/20210225151913/https://jpmorganchaseco.gcs-web.com/static-files/4ce12dc4-0d4c-4639-b3a1-95e01417d4fb |archive-date=February 25, 2021 |access-date=December 22, 2020 |website=JP Morgan Chase Press Release}}</ref>

==== List of former chief executives ====
# William B. Harrison Jr. (2000–2005)<ref name="JP Morgan Chase Press Release 2006" />

== Notable former employees ==

=== Business ===
* Winthrop Aldrich – son of the late Senator Nelson Aldrich
* Andrew Crockett – former general manager of the [[Organization:Bank for International Settlements|Bank for International Settlements]] (1994–2003)
* Pierre Danon – chairman of Eircom
* Ina Drew – former CIO of JP Morgan Chase
* Dina Dublon – member of the board of directors of [[Company:Microsoft|Microsoft]], [[Company:Accenture|Accenture]] and PepsiCo and former executive vice president and chief financial officer of JPMorgan Chase
* Maria Elena Lagomasino – member of the board of directors of [[Company:The Coca-Cola Company|The Coca-Cola Company]] and former CEO of JPMorgan Private Bank
* Jacob A. Frenkel – Governor of the Bank of Israel
* Thomas W. Lamont – acting head of J.P. Morgan & Co. on [[Finance:Wall Street Crash of 1929|Black Tuesday]]
* Charles Li – former CEO of [[Company:Hong Kong Exchanges and Clearing|Hong Kong Exchanges and Clearing]]
* Robert I. Lipp – former CEO of [[Company:The Travelers Companies|The Travelers Companies]]
* Marjorie Magner – chairman of [[Company:Gannett Company|Gannett Company]]<ref>{{Cite news |last=Dobrzynski |first=Judith H. |date=November 24, 2008 |title=Players: Marjorie Magner |work={{wipe|Forbes}} |url=https://www.forbes.com/consent/?toURL=https://www.forbes.com/2008/11/06/032.html |url-status=live |access-date=July 5, 2012 |archive-url=https://web.archive.org/web/20220118203137/https://www.forbes.com/consent/?toURL=https%3A%2F%2Fwww.forbes.com%2F2008%2F11%2F06%2F032.html |archive-date=January 18, 2022}}</ref>
* Henry S. Morgan – co-founder of Morgan Stanley, son of J. P. Morgan Jr. and grandson of financier J. P. Morgan
* Lewis Reford – Canadian political candidate
* David Rockefeller – patriarch of the [[Biography:Rockefeller family|Rockefeller family]]
* Charlie Scharf – current CEO of Wells Fargo
* Harold Stanley – former JPMorgan partner, co-founder of Morgan Stanley
* Jes Staley – former CEO of [[Company:Barclays|Barclays]]
* Barry F. Sullivan – former CEO of First Chicago Bank and deputy mayor of {{wipe|New York City}}
* C. S. Venkatakrishnan – current CEO of [[Company:Barclays|Barclays]]
* Don M. Wilson III – former [[Social:Chief risk officer|chief risk officer]] (CRO) of J. P. Morgan and current member of the board of directors at [[Company:Bank of Montreal|Bank of Montreal]]
* Ed Woodward – executive vice-chairman of [[Company:Manchester United F.C.|Manchester United F.C.]]

=== Politics and public service ===
* Frederick Ma – Hong Kong Secretary for Commerce and Economic Development (2007–08)
* Tony Blair – Prime Minister of the United Kingdom (1997–2007)<ref>[http://edition.cnn.com/2008/BUSINESS/01/10/us.blair/index.html?iref=mpstoryview "Tony Blair starts $1M bank job"] {{Webarchive|url=https://web.archive.org/web/20080111135404/http://edition.cnn.com/2008/BUSINESS/01/10/us.blair/index.html?iref=mpstoryview |date=January 11, 2008 }}. CNN. January 10, 2008.</ref>
* William M. Daley – U.S. Secretary of Commerce (1997–2000), U.S. White House Chief of Staff (2011–2012)
* Michael Forsyth, Baron Forsyth of Drumlean – Secretary of State for Scotland (1995–97)
* Thomas S. Gates Jr. – U.S. Secretary of Defense (1959–61)
* David Laws – UK Chief Secretary to the Treasury (May 2010) Minister of State for Schools
* Rick Lazio – member of the U.S. House of Representatives (1993–2001)
* Antony Leung – Financial Secretary of Hong Kong (2001–03)
* Dwight Morrow – U.S. Senator (1930–31)
* Margaret Ng – member of the Hong Kong Legislative Council
* Azita Raji – former United States ambassador to Sweden (2016–2017)
* George P. Shultz – U.S. Secretary of Labor (1969–70), U.S. Secretary of Treasury (1972–74), U.S. Secretary of State (1982–89)
* John J. McCloy – president of the World Bank, U.S. High Commissioner for Germany, chairman of Chase Manhattan Bank, chairman of the Council on Foreign Relations, a member of the Warren Commission, and a prominent United States adviser to all presidents from Franklin D. Roosevelt to Ronald Reagan
* Mahua Moitra – former vice president of JPMorgan Chase, Indian Member of Parliament, Lok Sabha

=== Other ===
* R. Gordon Wasson – [[Biology:Ethnomycology|ethnomycologist]] and former JPMorgan vice president<ref>{{Cite web |last=Tarinas |first=Joaquim |title=ROBERT GORDON WASSON Seeking the Magic Mushroom |url=http://www.imaginaria.org/wasson/life.htm |url-status=dead |archive-url=https://web.archive.org/web/20120114143839/http://www.imaginaria.org/wasson/life.htm |archive-date=January 14, 2012 |access-date=April 13, 2013 |publisher=Imaginaria.org}}</ref><ref>{{Cite magazine |date=June 16, 1958 |title=Medicine: Mushroom Madness |url=http://www.time.com/time/magazine/article/0,9171,863497,00.html |url-status=dead |magazine=Time |archive-url=https://web.archive.org/web/20090715060527/http://www.time.com/time/magazine/article/0,9171,863497,00.html |archive-date=July 15, 2009 |access-date=May 7, 2010}}</ref>

== See also ==
* [[Finance:Credit default swap#History|History of the credit default swap]]
* History of banking in the United States
* [[Finance:J.P. Morgan Reserve Card|J.P. Morgan Reserve Card]] (Palladium Card)
* [[Finance:Big Four (banking)#United States|Big Four banks]]

=== Index products ===
* [[Finance:JPMorgan EMBI|JPMorgan EMBI]]
* JPMorgan GBI-EM Index

== References ==
{{reflist|colwidth=30em}}

; Bundled references
{{reflist|group=list}}

== Further reading ==
* Horn, Martin (2022). ''J.P. Morgan & Co. and the Crisis of Capitalism: From the Wall Street Crash to World War II''. Cambridge University Press.

== External links ==
{{Finance links
| name = JPMorgan Chase & Co.
| symbol = JPM
| reuters = JPM.N
| bloomberg = JPM:US
| sec_cik = 19617
| yahoo = JPM
| google = JPM
}}

{{Major investment banks}}
{{Dow Jones Industrial Average companies}}

{{DEFAULTSORT:JPMorgan Chase}}
[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Primary dealers]]
[[Category:Companies (Finance)]]
[[Category:Companies]]

{{Sourceattribution|JPMorgan Chase}}