SEC Eyes JPMorgan’s Veracity in Financial Disclosures
The Securities and Exchange Commission is reviewing whether JPMorgan Chase violated rules on timely and accurate disclosures in the wake of the bank’s staggering multi-billion-dollar losing trades.
In other words, ...
JPMorgan Chase Stops Share Buybacks to Preserve Capital
JPMorgan Chase has suspended its stock repurchase program in the aftermath of the bank’s derivatives trading losses of more than $2 billion, although chief executive Jamie Dimon said its more about capital ...
Regulator: JPMorgan Losses Serve as “Stark Reminder”
The head of the U.S. Commodity Futures Trading Commission said the recent London-based hedge trading losses by JPMorgan Chase amount to a “stark reminder” that tougher regulation is needed.
Gary Gensler, chairman ...
Boehner: Reform Would Not Have Prevented Trade Losses
U.S. House of Representatives Speaker John Boehner has struck a sharp contrast between the GOP perspective on Wall Street reform and that of President Obama.
Even fully implemented financial reform would not have ...
Obama: Other Banks Can’t Handle JPMorgan-Type Losses
President Obama used JPMorgan Chase’s multi-billion-dollar trading loss to illustrate the need to proceed with “living wills” to wind down failing institutions that could harm the economy.
Obama urged Congress ...
Scrutiny of JPMorgan Chase Deepens, So Do Trade Losses
The problems for JPMorgan Chase are not easing – quite the contrary as reports indicate the initial hedge-trade loss of $2 billion has already grown by another $1 billion, and the bank’s CEO is set to testify ...
Chase Freedom Index: Leisure Lifestyle Spending Surges
During the first quarter, Chase Freedom card members spent 24 percent more at movie theaters, 21 percent more on theme parks and 7 percent more on recreational activities – compared to the same period in 2011.
Those ...
States Divert Mortgage Settlement Funds to Cover Shortfalls
Only 27 states out of 49 that received a total of $2.5 billion from the mortgage settlement with the top U.S. lenders have actually used the money to assist homeowners or hard hit communities affected by the foreclosure ...
Justice Initiates Probe of JPMorgan Chase Trade Losses
The pressure keeps mounting on JPMorgan Chase as the Justice Department has joined a list of federal entities investigating the banking giant’s trading losses of $2 billion tied to credit derivative hedging.
The ...
Is Your Money Fully Protected at JPMorgan Chase?
Before the stunning disclosure of $2 billion in losses from hedge trading, no one anywhere near Wall Street would suggest that banking customers of JPMorgan Chase would have any reason to worry.
After all, the largest ...
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