JPMorgan Spending $4 Billion On Oversight

JPMorgan Chase & Co. (NYSE:JPM) plans to spend an additional $4 billion and add 5,000 more employees to strengthen its risk and compliance initiatives. Monica Langley and Dan Fitzpatrick of The Wall Street Journal feel the initiatives aim to protect the nation’s largest bank by assets from regulatory scrutiny ranging from trading oversight to mortgage-bond sales to overseas-hiring practices. $18 billion legal expenses since 2008 JPMorgan Chase & Co. (NYSE:JPM) has spent over $18 billion in legal expenses since 2008, much greater than any other U.S. bank, as evidenced in an analysis by FBR Capital Markets. The banks is operating under…