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 ...
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 ...
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 ...
Ally Financial’s ResCap Mortgage Unit Files Bankruptcy
Ally Financial’s ResCap mortgage unit, which operates as the GMAC Mortgage brand, filed for bankruptcy protection Monday, part of a strategy to bolster the company’s longer term financial profile and ...
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