Tomahawk, WI 10/01/2013 (BasicsMedia) –One would really struggle getting information on another year which has been bad for JPMorgan Chase & Co (NYSE:JPM)in terms of litigation the way 2013 is thus far proving to be. But as it is now emerging, the company has been working hard to put an end to all these lawsuits which have been filed against it by the government as well as other private individuals. It is only this week that it was announced that JPM was willing to negotiate with the government to settle or conclude all these lawsuits against it by paying $3 billion. Has the position changed?

 JPM Willing to Talk with U.S Government

 It has now been reported that JPM is ready to talk with the U.S government to see whether it can improve its offer from $3 billion to an astounding $11 billion. If this report is true, then it could be an indication of JPM’s continued desperation regarding the impact all these lawsuits are having on the company. This company, which ranks as the largest U.S bank based on assets alone (which are valued at around $2.2 trillion), has been facing a barrage of attacks in the name of federal and state lawsuits filed against it. There is likelihood that the board has grown tired.

If the current federal and state cases filed against JPM are allowed to go on, the company might just find itself in news for the wrong reasons yet again. The U.S clients are yet to fully trust banks again after the role they are reported to have played in causing the financial crisis of 2008, wise effects are still being felt to date. The bank’s reputation would suffer a great deal and it may prove problematic trying to recover from such a loss in the public eye. The company intends to break this payment into two; $4 billion for consumers and $7 billion in cash.

 Government Institutions Involved in talks with JPM

 Some of the institutions which are involved in these talks with JPM include the New York State Attorney General, the U.S Department of Housing and Urban Development, the Securities and Exchange Commission as well as the U.S. Department of Justice. The current talks indicate that the amount of money being bandied about is not fixed in stone. There is every indication that the bank is fluid with this amount and may be prepared to increase the offer since it wants to bring all these cases to an end so it can focus on the core business and fulfill obligations to investors.

 JPM Board Tired of Lawsuits and Prepared to Settle

 While JPM wasn’t as severely affected by the financial crisis of 2008 to the same level as its competitors such as Bank of America, many are now asking if this as a good thing. The reasons for the increased concerns are primarily due to the numerous legal actions being taken against JPM. Since it started losing money on its activities regarding derivates bet, the company appears to be moving from one lawsuit to another from May 2012. Finally, it seems that the top executives are now tired of everything and want to bring it all to a speedy conclusion.

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