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JPMorgan Chase & Co. said Friday it is dropping a clause from its credit card contracts that required disputes with customers to be handled through binding arbitration, a move that could lead to consumers filing class-action and other lawsuits.
JPMorgan Chase is letting Facebook users help decide how to give away $5 million.
Alabama's most populous county filed suit Friday blaming Wall Street powerhouse JPMorgan Chase and others for the financial disaster that brought it to the brink of what would be the largest municipal bankruptcy in U.S. history.
JPMorgan Chase & Co. said Tuesday it will hire 1,200 mortgage loan officers by the end of next year, a 60 percent increase in its sales force.
JPMorgan Chase & Co. has agreed to pay $75 million in fines and forfeit $647 million in fees to settle federal regulators' charges that it made unlawful payments to friends of public officials to win municipal bond business in Jefferson County, Ala.
The judge presiding over Washington Mutual Inc.'s bankruptcy protection case declined to issue an immediate ruling Thursday on the company's request that JPMorgan Chase & Co. be ordered to turn over some $4 billion in disputed assets.
JPMorgan Chase & Co. reported strong third-quarter earnings Wednesday as its thriving investment banking business more than offset rising loan losses that the bank warned would continue for the foreseeable future.
Stocks ended a strong week with a flash of selling after Bank of America Corp. and General Electric Co. signaled that businesses and consumers are still struggling to pay off their debts. Stocks slid Friday as results from the companies dented hopes that earnings would show strong signs of improvement in the July-September period. A rise in oil also helped the market end well off its lows, following a similar pattern from earlier in the week.
The stock market is pointing to a higher open as investors await companies' earnings reports for clues about consumers' mood and the economy's health.
JPMorgan Chase & Co. and two other investment banks have agreed to pay $100 million to settle a lawsuit over their contribution to investor losses in the collapse of American Business Financial Services Inc., the bankruptcy trustee's lawyer said Friday.
An attempt by former Washington Mutual Inc. employees to recoup their retirement account losses from JPMorgan Chase & Co., part of a complex tangle of litigation stemming from WaMu's collapse last year, has been dismissed.
JPMorgan Chase & Co. named Jes Staley the head of its investment bank, a move that puts Staley in a position to become the new CEO should the bank's current chief, Jamie Dimon, leave or retire unexpectedly.
Several of the country's biggest banks unveiled consumer-friendly makeovers of their overdraft programs last week. The changes may be too little, too late.
Chase Card Services, a unit of JPMorgan Chase & Co., said Wednesday it will now offer a rewards card designed for wealthy customers.
JPMorgan Chase & Co. said Monday that the rate of losses on its credit card loans eased up in July.
Lawyers for JPMorgan Chase & Co. and for Washington Mutual Inc. fund managers, directors and a former chief executive asked a federal judge Thursday to dismiss a lawsuit by WaMu employees whose retirement accounts have vaporized.
JPMorgan Chase & Co. said Friday it has converted former Washington Mutual branches in seven states to Chase systems and is on track to finish absorbing WaMu by year's end.
The long national banking nightmare may be over — but only for a select few banks.
Investors piled into technology stocks again to extend the market's rally.
A Delaware bankruptcy judge has refused to cede control over a dispute between Washington Mutual Inc. and JPMorgan Chase & Co. involving billions of dollars in bank assets.
JPMorgan Chase & Co. said Friday it expects to record a $1.1 billion charge against its second-quarter earnings from its early repayment of $25 billion in taxpayer money the bank received under a federal bailout program.
JPMorgan Chase & Co. on Wednesday joined a handful of other banks in repaying government bailout funds it received last fall.
Morgan Stanley, JPMorgan Chase & Co. and American Express Co. moved closer to repaying government bailout money, announcing a series of new stock sales.
Risk-Taking Is Back for Banks 1 Year After CrisisNEW YORK (AP) -- A year after the financial system nearly collapsed, the nation's biggest banks are bigger and regaining their appetite for risk.
Banks 'Too Big to Fail' Have Grown Even BiggerJ.P. Morgan Chase, an amalgam of some of Wall Street's most storied institutions, now holds more than $1 of every $10 on deposit in this country.
At The Top 9 Recipients of TARP Funds, 800+ People Made More Than $3,000,000 each in 2008NY Attorney General Andrew Cuomo released his report on bonuses at the TARP Top 9. At these firms alone, over 800 people made north of $3 million in 2008. That's a lot of scharole. See Appendix B for the bonus breakdown at each bank.
Windfalls for Bankers, Resentments for the RestThere was a time in this country when a company reporting a few billion in earnings could count its money while basking in polite, reverent applause.
Judicial Watch Forces Release of Bank Bailout Documents (Read Documents For Yourself)"Judicial Watch, the public interest group that investigates and prosecutes government corruption, announced today that it forced the Obama administration to release documents about the October 13, 2008, Treasury Department meeting that coerced major banks to allow the government …
Credit card companies piling on fees, raising rates ahead of new federal rulesIt appears that credit card issuers are insisting upon exercising their right to abuse their customers in the name of higher profits.
The Real Wall StreetThe Real Wall Street "At a time when legitimate businesses and financial services firms are subjected to ridicule and contempt on a daily basis, it's worth noting that the private sector is living up to its financial commitment to the 9/11 memorial under way at ground zero.
Banks Planning To Game Geithner's Investment Fund By Swapping Toxic Assets" Today, Financial Times highlighted another way in which financial institutions may be hijacking Geithner's plan.
Welfare Recipient JPMorgan Chase To Spend $138 million on New Luxury Jets and Expanded Airport HangarEmbattled bank JPMorgan Chase, the recipient of $25 billion in TARP funds, is going ahead with a $138 million plan to buy two new luxury corporate jets and build "the premiere corporate aircraft hangar on the eastern seaboard" to house them, ABC News has learned. ...
JPMorgan Chase To Spend Millions on New Jets and Luxury Airport HangarEmbattled bank JPMorgan Chase, the recipient of $25 billion in TARP funds, is going ahead with a $138 million plan to buy two new luxury corporate jets and build "the premiere corporate aircraft hangar on the eastern seaboard" to house them, ABC News has learned.
JPMorgan Chase and Goldman May Return "TARP" MoneyBoth JPMorgan Chase led by Jamie Dimon and Goldman Sachs are both exploring ways to return the TARP money injections to the federal government and get out from under the restrictions on management imposed by the feds.
Stick Those TARP Funds Where The Sun Don't ShineFinally someone who understands that the morons on Capital Hill were doing nothing other then trying to get votes by angering the public when it was the representatives themselves that had the biggest hand in creating this mess. Who are they to FLOG ANYBODY???
Bad quarter for banks...but just how bad? - Jan. 9, 2009Citigroup, JPMorgan Chase and other banks will take it on the chin when they report fourth-quarter results. But will results be worse than expected?
The 10 Worst Bailout "Boondoggles"What's the $144 billion Wall-Street bailout going to? Oh, crap... We've been screwed.
China to the Rescue? Not! By THOMAS L. FRIEDMAN I had no idea that many of those oil paintings that hang in hotel rooms and starter homes across America are actually produced by just one Chinese village, Dafen, north of Hong Kong.
U.S. Treasury To Buy Stakes In Nine BanksThe Bush administration's latest prescription for the ailing financial industry — a program that clears the way for the U.S. government to buy a $250 billion equity stake in the nation's banks — provided only the slightest glimmer of optimism in the U.S.
Biggest US bank failure ever: Washington Mutual assets acquired by JPMorgan ChaseAnother US banking giant fell Thursday, with the government seizure of Washington Mutual and the purchase of its operations and assets by JPMorgan Chase.
Feds Seize & Sell WaMu; Biggest Bank Failure in US HistoryOrdinarily, the story would be big news.
WaMu seized by Feds. Largest Bank Failure in US HistoryJPMorgan Chase & Co., the third- biggest U.S. bank by assets, agreed to acquire Washington Mutual Inc.'s deposits and branches for $1.9 billion after regulators seized the thrift in the biggest bank failure in U.S. history.
JPMorgan buys WaMu"JPMorgan Chase acquired the banking assets of Washington Mutual late Thursday after the troubled thrift was seized by federal regulators, marking the biggest bank failure in the nation's history and the latest stunning twist in the ongoing credit crisis.
Cedar Park couple sues Austin company in foreclosure mix-upA Nigerian couple who are victims of a mortgage mix-up filed a lawsuit Monday in Williamson County against the company that removed everything they owned from the house, including family heirlooms, furniture and even food from the pantry.
National Banks Close Their Doors and Student Loan Programs To Community College StudentsSome of the nation's biggest banks have closed their doors to students at community colleges, for-profit universities and other less competitive institutions, even as they continue to extend federally backed loans to students at the nation's top universities.
Carlyle, Deutsche Bank Seek to Raise $500 Million CLO Bloomberg reports: The Carlyle Group, the world's second largest private-equity firm, is raising a $500 million collateralized loan obligation to buy high-risk, high-yield debt being sold by banks at discounted prices, according to people with knowledge of the plan.
Newly Surfaced JPMorgan Chase Memo Outlines Mortgage Loan 'Cheats & Tricks' A newly surfaced memo from banking giant JPMorgan Chase provides a rare glimpse into the mentality that fueled the mortgage crisis. The memo's title says it all: "Zippy Cheats & Tricks."
Home sales help Dow climb 187Stocks advanced sharply Monday as investors applauded JPMorgan Chase boosting the takeover price for Bear Stearns and a stronger-than-expected housing report. The Dow rose 187.32 to 12,548.64, after gaining 261 on Thursday, the last day of trading before the Easter weekend.
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