Please ensure Javascript is enabled for purposes of website accessibility

Tag Archives: JPMorgan Chase & Co.

JPMorgan’s role in burst housing bubble costs $13B

WASHINGTON — JPMorgan Chase & Co. has reached a record $13 billion settlement with federal and state authorities, resolving claims over the bank’s sales of low-quality, high-risk mortgage-backed securities that collapsed in value during the U.S. housing crisis. The agreement ...

Read More »

JPMorgan pays $920M, admits fault in trading loss

WASHINGTON — JPMorgan Chase & Co. will pay $920 million and has admitted that it failed to oversee trading that led to a $6 billion loss and renewed worries about serious risk-taking by major banks. U.S. and U.K. regulators said ...

Read More »

U.S. 4Q bank earnings up 37 pct as lending rises

WASHINGTON — Profits at U.S. banks jumped almost 37 percent for the October-December period, reaching the highest level for a fourth quarter in six years as banks continued to step up lending. The figures are fresh evidence of the industry’s ...

Read More »

Post office nears historic default on $5B payment

WASHINGTON — The U.S. Postal Service is bracing for a first-ever default on billions in payments due to the Treasury, adding to widening uncertainty about the mail agency’s solvency as first-class letters plummet and Congress deadlocks on ways to stem ...

Read More »

U.S. bank earnings rose this winter to 5-year high

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 ...

Read More »

Bank of America expects $1.8B gain from stake in Chinese bank

CHARLOTTE, N.C. — Bank of America will sell most of its remaining shares in China Construction Bank as it raises cash and shores up its capital base. The latest sell-off in the Chinese bank, announced Monday, is expected to generate ...

Read More »

Wells Fargo agrees to pay $37M in bid-rigging case

DES MOINES, Iowa — Wells Fargo & Co. said Tuesday it has agreed to pay at least $37 million in a lawsuit which alleges several banks rigged bidding competitions to win business from state and local governments. Banks help municipalities ...

Read More »