JPMorgan Chase

Reasons to avoid

1. JPMorgan Chase is the world's largest financier of fossil fuels since the Paris Agreement, committing over $430 billion to fossil fuel companies since 2016 — including $53.5 billion in 2024 alone.Rainforest Action Network / Banking on Climate Chaos2025-05-01
2. JPMorgan Chase paid $290 million to settle claims by over 100 of Jeffrey Epstein's sex-trafficking victims. A federal judge found the bank knowingly kept Epstein as a client for more than 15 years despite documented evidence of his crimes.NPR2023-06-12
3. The bank paid a record $13 billion settlement for knowingly selling toxic mortgage-backed securities to investors before the 2008 financial crisis, causing massive losses to pension funds and ordinary investors.U.S. Department of Justice2014-02-04
4. JPMorgan Chase entered a deferred prosecution agreement and paid $920 million in fines after its precious metals traders were found to have engaged in a decade-long spoofing scheme — placing and canceling fake orders in gold, silver, and other markets tens of thousands of times.U.S. Commodity Futures Trading Commission2020-09-29
5. The bank paid $55 million to settle a DOJ lawsuit finding that Black and Hispanic borrowers were charged on average $1,000 more in mortgage fees than comparable white borrowers between 2006 and 2009 — affecting roughly 50,000 minority customers.U.S. Department of Justice2017-01-18
6. JPMorgan Chase admitted to violating the Bank Secrecy Act and paid $461 million to FinCEN after failing to report suspicions about Bernie Madoff's Ponzi scheme — even after alerting British regulators — while quietly redeeming $275 million of its own investments from Madoff feeder funds first.U.S. Financial Crimes Enforcement Network (FinCEN)2014-01-07
7. A ProPublica investigation found JPMorgan Chase wrongly charged overdraft fees to 170,000 customers due to a software glitch — billing customers who ended the day with a positive balance — and that federal regulators declined to penalize the bank, issuing only a private letter.ProPublica2020-12-14