Fined billions, JPMorgan Chase gives boss a raise

Jamie Dimon, the embattled chief executive and chairman of JPMorgan Chase, had his pay docked by half last year, after the bank was fined nearly $20 billion in penalties for its involvement in the sale of bad mortgages and various trading scandals, including the “London Whale” and the Bernie Madoff scam.
 
Earlier this week, JPMorgan’s board had a change of heart, and voted to give Dimon a healthy raise. Despite protests from a minority of members, Dimon was rewarded for his guidance of the financial firm during its negotiations with federal regulators, according to the New York Times.
 
How much Dimon is going to get wasn’t made public, but it isn’t expected to be as high as the $23.1 million he received in 2011. Despite the record fines JPMorgan Chase paid, the bank reported 2013 profits of nearly $18 billion.

Read more from the New York Times.