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Tag Archives: JPMorgan Chase

U.S. banks try to clean up remaining mortgage mess

WASHINGTON — U.S. banks have taken another step to clear away the wreckage of the 2008 financial crisis by agreeing to pay $8.5 billion to settle charges that they wrongfully foreclosed on millions of homeowners. The deal announced Monday could ...

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Morgan Stanley closes a bleak bank earnings season

NEW YORK — It’s tough being a big bank these days. Morgan Stanley, the storied investment house, reported Thursday that its revenue was down sharply for April through June and its profit missed Wall Street expectations. Its stock was clobbered ...

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JPMorgan says bad trade has ballooned to $5.8B

NEW YORK — JPMorgan Chase said Friday that a bad trade had cost the bank $5.8 billion this year, almost triple its original estimate, and raised the prospect that traders had improperly tried to conceal the blunder. “This has shaken ...

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Dimon: JPMorgan trusted risk models before loss

WASHINGTON — JPMorgan Chase CEO Jamie Dimon says the bank did its best to fully inform investors about its risk strategy several weeks before it suffered a $2 billion-plus trading loss. Dimon told the House Financial Services Committee Tuesday that ...

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JPMorgan CEO Dimon says execs may have pay taken back

WASHINGTON — JPMorgan Chase CEO Jamie Dimon told Congress on Wednesday that senior bank executives responsible for a $2 billion trading loss will probably have some of their pay taken back by the company. “It’s likely that there will be ...

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