WASHINGTON — To put it in the simplistic terms of a classic children's story, JPMorgan Chase (JPM) had a "terrible, horrible, no good, very bad day" on Thursday, agreeing to pay more than $1 billion in regulatory fines and at least $300 million in restitution to customers.

It was slapped with multiple cease and desist orders covering everything from its derivatives trading to debt collection practices to the sale of add-on products for credit cards. In statements, the bank apologized multiple times for the various errors and, in the words of one executive, promised to "get it right" going forward.

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