On January 24, 2014, it was announced that Dimon would receive $20 million for his work in 2013, a year of record profits and stock price under Dimon's reign, despite significant losses that year due to scandals and payments of fines. The award was a 74% raise, which included over $18 million in restricted stock. This is despite the recent $13 billion settlement with the US government, the largest in history, for bad mortgages and practices during the financial crisis. Forbes reported that, in a statement following news of Dimon's compensation, the bank said, "Under Mr. Dimon's stewardship, the Company has fortified its control infrastructure and processes and strengthened each of its key businesses while continuing to focus on strengthening the Company's leadership capabilities across all levels."