Big Loss Fallout: JPMorgan Chase Reshuffles Trade Unit
The executive responsible for J.P. Morgan Chase’s Chief Investment Office, which oversaw the $2 billion in trading losses, has decided to retire, marking the start of the fallout from the bank’s risky hedge ...
JPMorgan’s Dimon: ‘We Know It Was Bad Judgment’
JPMorgan Chase CEO Jamie Dimon said he doesn’t know if the bank’s credit derivative trades that took a $2 billion hit violated any regulations, even though the transactions went through an exhaustive internal ...
JPMorgan’s $2B Loss is Win for ‘Volcker Rule’ Reformers
Reform proponents who want to restrict proprietary trading by big banks were handed “Exhibit A” on a silver platter yesterday with the jolting announcement by JPMorgan Chase CEO Jaime Dimon of a $2 billion loss ...
JPMorgan Chase Admits $2B Loss in ‘Riskier’ Trading
JPMorgan Chase, the nation’s largest bank, said today in a surprise after-market announcement that one of its trading units has lost $2 billion in recent weeks from a hedge strategy “proven to be riskier, more ...
Chase ‘Liquid’ Reloadable Card has $4.95 Monthly Fee
Chase has launched Chase Liquid, a reloadable, prepaid card that offers customers an alternative to a traditional checking account for a flat monthly fee of $4.95.
Chase is touting its new venture as an affordable ...
Average Credit Card Rate Offered Holds at 14.91%
The average annual percentage rate (APR) on new credit card offers remained unchanged at 14.91 percent this week, marking the ninth week of 17 this year that rates have not moved, according to creditcards.com
The ...
Fed Sets Panel of Economists to Study Bank ‘Stress Tests’
The Federal Reserve has assembled a panel of economists to evaluate the “stress test” models that determine how the largest U.S. banks fare during an economic crisis.
The Model Validation Council will provide ...
Short Sales Up 33% as Foreclosure Option Stages Comeback
After a three-year lull, there has been resurgence in short sales – when properties are sold at a loss – indicating that banks are trying to push through inventories of pre-foreclosure properties.
There was ...
Mortgage ReFi’s, Credit Quality Propel JPMorgan Chase Profit
JPMorgan Chase, the nation’s largest bank by assets, reported that mortgage loan volumes were $59.9 billion during the first quarter, up a significant 33 percent from the prior year and 14 percent from the prior ...
Chase Ink Pushes Down Average Card Rate to 14.91%
The average annual percentage rate of the most popular credit cards dropped this week to 14.91 percent, from 14.96 percent last week, according to the CreditCards.com.
This marks the sixth time this year that rates ...
Recent Comments