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Tag Archives: JPMorgan Chase

Chase to close 5% of bank branches

JPMorgan Chase plans to close 300 bank branches over the next two years, about 5 percent of the total, as more customers move online and the bank seeks to cut costs. The closures are part of a $1.4 billion cost-cutting ...

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JPMorgan paying $5.1B in Fannie, Freddie deal

WASHINGTON — JPMorgan Chase has agreed to pay $5.1 billion to resolve claims that it misled Fannie Mae and Freddie Mac about risky home loans and mortgage securities that it sold them before the housing market collapsed. The Federal Housing ...

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Banks fall short in helping struggling homeowners

WASHINGTON — Homeowners trying to avoid foreclosure must wait too long for their loan modification applications to be reviewed by some of the nation’s top mortgage servicers, according to a report released Wednesday. Such delays can plunge borrowers deeper in ...

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Freddie accuses big banks of rigging lending rate

WASHINGTON — Freddie Mac has sued 15 big international banks, including JPMorgan Chase, Bank of America and Citigroup, accusing them of rigging a key interest rate and causing huge losses for the government-controlled mortgage giant. Freddie filed the lawsuit Thursday ...

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Ex-JPMorgan exec says Dimon withheld data

WASHINGTON — JPMorgan Chase CEO Jamie Dimon held back showing federal regulators reports in May that revealed the bank had accumulated billions of dollars in trading losses, according to congressional testimony Friday from the firm’s former chief financial officer. Douglas ...

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