JP Morgan


JPMorgan to Cut 8,000 Jobs This Year

JPMorgan Chase plans to eliminate 8,000 jobs this year, as its mortgage business shrinks and the giant bank aims to control costs at its branches. About half of those job…

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JPMorgan Chase to Pay $614M Over Mortgage Lending

The nation’s largest bank, JPMorgan Chase & Co., will pay $614 million and improve mortgage lending practices under a deal announced Tuesday to settle claims it approved thousands of unqualified…

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JPMorgan Boosts CEO Dimon’s Pay to $20 Million

JPMorgan Chase almost doubled chairman and CEO Jamie Dimon’s pay for 2013, rewarding the executive for settling probes against the bank. Dimon will receive total compensation of $20 million in…

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JPMorgan 4Q Profit Falls 7 percent on Legal Costs

JPMorgan Chase said Tuesday that its profits fell 7 percent in the fourth quarter, hampered by more legal woes and a decline in the bank’s investment-banking business. The bank reported…

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JPMorgan’s Dimon: Target Breach Is a Wake-Up Call

More Target-sized security breaches will happen if banks and retail stores don’t start working together to further protect customers’ data, JPMorgan Chase CEO Jamie Dimon said Tuesday. JPMorgan has replaced…

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JPMorgan Looks at Sale of Prepaid Card Business

JPMorgan Chase said it is considering a sale of its prepaid card business. The company said Thursday it is no longer accepting new prepaid card business but will continue to…

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JPMorgan to Pay Over $2.5 Billion in Madoff Fraud

JPMorgan Chase & Co., already beset by costly legal woes, will pay more than $2.5 billion for ignoring obvious warning signs of Bernard Madoff’s massive Ponzi scheme, authorities said Tuesday.…

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JPMorgan Chase Sues FDIC for More Than $1B

JPMorgan is suing the Federal Deposit Insurance Corp. to recover more than $1 billion tied to its purchase of Washington Mutual when that bank failed in 2008. In a federal…

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3 Banks Failed to Meet Some Relief Tests: Monitor

Three of the biggest U.S. lenders failed this year to meet some requirements for giving relief to struggling homeowners in a $25 billion settlement over foreclosure abuses, according to an…

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JPMorgan, Gov’t Reach $13B Deal on Mortgage Bonds

JPMorgan Chase & Co. has agreed to pay $13 billion in a landmark settlement and acknowledged that it misled investors about the quality of risky mortgage-backed securities ahead of the…

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JPMorgan Chase Reaches $4.5B Deal With Investors

JPMorgan Chase & Co. has reached a $4.5 billion settlement with investors who said the bank deceived them about bad mortgage investments. The settlement, announced Friday, covers 21 major institutional…

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JPMorgan Downgrades Teva, 2nd Time in 2 Months

Teva Pharmaceutical’s woes have registered with Wall Street, as JPMorgan announced a downgrade from “neutral” to “underweight,” just two months after downgrading it to “neutral” from “overweight,” Globes reported. “We…

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Source: Government, JPMorgan Reach Tentative Deal

JPMorgan Chase & Co. has tentatively agreed to pay $13 billion to settle allegations surrounding the quality of mortgage-backed securities it sold in the run-up to the 2008 financial crisis,…

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JPMorgan Pays $100M, Admits Fault in London Trades

JPMorgan Chase & Co. has agreed to pay a $100 million penalty, and admitted that its traders acted “recklessly” during a series of London trades that ultimately cost the bank…

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JPMorgan Posts First Loss Under Dimon

The financial crisis has finally caught up with Jamie Dimon. As leader of JPMorgan Chase & Co., he steered the nation’s largest bank through the Wall Street collapse of 2008.…

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JPMorgan Ordered to Pay $42.5 Million to Blavatnik

JPMorgan has been ordered to pay billionaire Leonard Blavatnik $42.5 million in damages related to a soured investment in mortgage-backed securities. Blavatnik, who ranks 44th on Forbes’s list of billionaires,…

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JPMorgan Faces Criminal Probe Over Mortgage Bonds

The U.S. Justice Department is investigating JPMorgan Chase over mortgage-backed investments the bank sold in the run-up to the financial crisis. The New York-based bank said in a regulatory filing…

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