JPMorgan Chase has agreed to pay $5.1 billion to resolve claims that it misled Fannie Mae and Freddie Mac about risky home loans and mortgage securities it sold them before the housing market collapsed.
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, a person familiar with the negotiations between the bank and the federal government said Saturday.
Banks large and small are girding for an elaborate drill this week that will test how they would fare if hackers unleashed a powerful and coordinated attack against them.
Regulators want to require eight of the largest U.S. banks to meet a stricter measure of health to reduce the threat they pose to the financial system.
Financial data and news company Bloomberg LP said Friday that it had corrected a “mistake” in its newsgathering policies and cut off its journalists’ special access to client log-in data on the company’s ubiquitous trading information terminals after Goldman Sachs complained about the matter last month.
As big financial institutions like Goldman Sachs and JPMorgan Chase get set to report earnings over the next week, they are under pressure to show investors they can correct mistakes from the financial crisis and still post big profits. While profitable of late, there are worries that the recent run-up in earnings is just masking the problems.
The frugality and investing discipline that the 2008 financial crisis imposed on Americans appear to have led to permanent changes in behavior on money matters, according to a survey by the nation’s second largest mutual fund company.
A former top executive for JPMorgan Chase is blaming last year’s $6.2 billion trading loss on other executives at the firm, saying they failed to control risk out of the London office and hampered her abilities to prevent the losses.
Jobless Americans are paying millions in unnecessary fees to collect unemployment benefits because of state policies encouraging them to get the money through bank-issued payment cards, according to a new report from a consumer group.
The White House says a $2 billion trading blunder by JPMorgan Chase shows the continued need for rules that protect the taxpayer when Wall Street makes mistakes.