U.S. bank earnings rose this winter to 5-year high
BY: Associated Press
POSTED: May 24, 2012
Tags: bank, bank of america corp, Citigroup Inc., earnings, Economy, FDIC, FDIC Chairman Martin Gruenberg, Federal Deposit Insurance Corp., housing market, industry, interest rates, JPMorgan Chase & Co., revenue, rose, united states, wells fargo & co
WASHINGTON — U.S. bank earnings rose in the first three months of the year to the highest level in nearly five years and the number of troubled banks fell for the fourth straight quarter. The mostly positive first-quarter earnings released Thursday illustrate how far the banking industry has come since the 2008 financial crisis. Still, [...]
SEC reviewing JPMorgan’s filings after $2B loss
BY: Associated Press
POSTED: May 22, 2012
Tags: bank, federal regulators, filing, jpmorgan, JPMorgan CEO Jamie Dimon, losses, Mary Schapiro, profit, SEC, securities and exchange commission, Senate Banking Committee, volcker rule
WASHINGTON — Federal regulators are reviewing what JPMorgan Chase told investors about its finances and the risks it took weeks before suffering a multibillion-dollar trading loss. Mary Schapiro, chairman of the Securities and Exchange Commission, told the Senate Banking Committee Tuesday that the agency is examining JPMorgan’s earnings statements and first-quarter financial reports to determine [...]
JPMorgan suspends stock repurchase plans
BY: Associated Press
POSTED: May 21, 2012
Tags: Deutsche Bank, dividend, Economy, jamie dimon, JPMorgan Chase, regulations, stock, trading loss
NEW YORK — JPMorgan Chase is suspending plans to buy back its own stock, a little over a week after the bank posted a large trading loss. The largest U.S. bank by assets disclosed the $2 billion trading loss on May 10 in a hastily-called conference call with investors and journalists. The loss from an [...]
Shareholders sue JPMorgan over $2B trading loss
BY: Associated Press
POSTED: May 16, 2012
Tags: JPMorgan Chase, lawsuit, loss, new york, shareholders, stock exchange, trading
NEW YORK — Shareholders of JPMorgan Chase & Co. have filed two lawsuits against the nation’s biggest bank, accusing it and its leaders of taking excessive risk and causing a monumental $2 billion trading loss. The company disclosed the loss last week, saying it resulted from a failed hedging strategy. The lawsuits filed on Wednesday [...]
Key Republican: JPMorgan $2B loss raises questions
BY: Associated Press
POSTED: May 16, 2012
Tags: bank, Business, Government, House Financial Services subcommittee, jp morgan chase, loss, republican
WASHINGTON — A key House Republican says the $2 billion trading loss at JPMorgan Chase raises critical questions about how banks control their risks. But Republican lawmakers rejected calls from Democrats for stricter regulation. Rep. Shelly Moore Capito, R-W.Va., chairman of the House Financial Services subcommittee, noted the loss during a hearing about how best [...]
How will JPMorgan’s $2B loss affect banking rules?
BY: Associated Press
POSTED: May 15, 2012
Tags: administration, Banking, Federal Reserve Chairman Paul Volcker, JPMorgan Chase, loss, obama, regulations, rules, standards, treasury secretary timothy geithner, washington
WASHINGTON — The $2 billion trading loss at JPMorgan Chase has renewed calls for stricter oversight of Wall Street banks. Two years after Congress passed an overhaul of financial rules, many of those changes have yet to be finalized. JPMorgan’s misstep gives advocates of stronger regulation an opening to argue that regulators should toughen their [...]
Dimon survives votes on pay, chairmanship
BY: Associated Press
POSTED: May 15, 2012
Tags: chairman, federal reserve, jamie dimon, meeting, pay package, president barack obama, regulation, securities and exchange commission, shareholders, the view, timothy geithner, trading loss, vote, wall street
TAMPA, Fla. — The CEO of JPMorgan Chase survived a shareholder push Tuesday to strip him of the title of chairman of the board, five days after he disclosed a $2 billion trading loss by the bank. CEO Jamie Dimon also won a shareholder endorsement of his pay package from last year, which totaled $23 [...]
Next up for JPMorgan’s Dimon: Facing the shareholders
BY: Associated Press
POSTED: May 14, 2012
Tags: CEO, Consumer Financial Protection Bureau, federal reserve bank, jamie dimon, jpmorgan, NYSE, shareholders, trading
NEW YORK — JPMorgan Chase CEO Jamie Dimon owned up to stock analysts and went on TV to accept blame for a $2 billion trading mistake. Next he faces shareholders, who are considerably less wealthy since the blunder was disclosed. While Dimon may be greeted by colorful protesters and tough questions at the JPMorgan annual [...]
White House says bank loss shows need for rules
BY: Associated Press
POSTED: May 14, 2012
Tags: bank, jpmorgan, loss, president obama, white house
Comments: 1
ABOARD AIR FORCE ONE — The White House says a $2 billion trading blunder by JPMorgan Chase shows the continued need for rules that protect the taxpayer when Wall Street makes mistakes. White House press secretary Jay Carney says the loss is a reminder of why controls installed after the 2008 financial crisis are necessary, [...]
No sign of shareholder revolt against Dimon
BY: Associated Press
POSTED: May 14, 2012
Tags: Banks, bruno iksil, Elizabeth Warren, executives, federal reserve, financial crisis, ina drew, jamie dimon, JPMorgan Chase, london whale, matt zames, regulation, rep. barney frank, resignation, trading, volcker rule, wall street
Comments: 1
NEW YORK — JPMorgan Chase CEO Jamie Dimon owned up to stock analysts and went on TV to accept blame for a $2 billion trading mistake. Next he faces shareholders, who are considerably less wealthy since the blunder was disclosed. While Dimon may be greeted by some colorful protesters when he arrives for the JPMorgan [...]
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