Like Wells Fargo, JPMorgan eventually had to pay (roughly $1 billion) to settle inquiries related to the trading blowup.
Besides the California attorney general, Herbalife has faced and settled inquiries from the Canadian Ministry of Health and Welfare, two U.S. congressional panels and the federal Food and Drug Administration, which had been investigating Herbalife for four years for six alleged violations of the Food, Drug and Cosmetic Act in 1982, said Herbalife's lawyer, Conrad Lee Klein.
A1 Qwest Pays to Settle Inquiry Qwest Communications agreed to pay $250 million to settle a Securities and Exchange Commission investigation into its past accounting practices, the company's union said.
One of the nation's largest student loan companies, Nelnet, agreed yesterday to pay $2 million into a fund to educate high school students about financing college, settling an inquiry into its business practices by the New York attorney general.
| JPMorgan looks to pay to settle U.S. inquiries.
DealBook » JPMorgan Looks to Pay to Settle U.S. Inquiries | The payouts started on Tuesday when JPMorgan struck a $410 million settlement with the nation's top energy regulator.
The bank reached a deal to settle state inquiries into a range of practices, the latest chapter in its long-running legal woes.
Under the terms of an agreement reached with Mr. Cuomo and Bill McCollum, the Florida attorney general, to settle the inquiries, Student Financial will not pay any penalty, but will adopt a new code of conduct on direct marketing developed by Mr. Cuomo's office.
But Sallie Mae's statement Thursday, after New York markets had closed, was the first time it had estimated a potential penalty or cost to settle the inquiries.
The Swiss bank agreed to settle the inquiry by paying $1.5bn to US and British regulators last month.
This week, the American International Group became the latest insurance company to settle an inquiry by a group of state insurance regulators into the handling of death benefits, the payments to a beneficiary when the holder of a life insurance policy dies.
