JPMorgan Fined $48 Million for Failures in U.S. Robo-Signing Settlement

Reuters |  January 6, 2016    JPMorgan Chase has been fined $48 million for failing to meet terms of a settlement to resolve mortgage servicing violations, U.S. bank regulators said on Tuesday.  The fine will be on top of $2 billion that JPMorgan had been ordered to pay to cover remediation costs and foreclosure assistance to borrowers, the Office of the Comptroller of the Currency said.

JPMorgan was among a number of banks that participated in a 2013 nationwide settlement with regulators over the practice of robo-signing, where banks pursued faulty foreclosures by using defective or fraudulent documents.

The OCC also said on Tuesday that EverBank will pay a $1 million fine for similar violations connected to the mortgage servicing case.   Read more here