JPMorgan settlement - what it means legally

JPMorgan settled their case in 2023 for $290 million. Here's the legal breakdown: **The allegations:** - Bank maintained relationship from 1998-2013 - Multiple compliance red flags ignored - Personal relationship between JE and bank executive **The settlement:** - $290 million to victims - No admission of wrongdoing - Bank executive left in 2015 **What this means:** - Civil liability only, no criminal charges against bank - Settlement prevents further civil discovery - Sets precedent for financial institution liability **Compared to Deutsche Bank:** - DB: $150M to regulators (2020) - JPM: $290M to victims (2023) Different cases, different outcomes. The JPM settlement went directly to survivors.