Housing Wire is reporting that JP Morgan Chase has hired 3,000 employees for its compliance and legal departments. In addition the bank is spending roughly $1.5 Billion to beef up its control efforts, and manage risk and compliance issues. 

Furthermore, the bank is setting aside $2.5 Billion to cover anticipated litigation costs (this is on top of the $18 Billion spent since 2008 on various legal settlements to federal regulators).

Does your management team still think compliance does not matter? Are you getting the resources you need to assist with not only your regular compliance duties; but also the massive changes in information reporting laws and slew of new documentation and reporting forms being issued by the IRS?