JPMorgan Goes After Payday Lenders

JPMorgan Goes After Payday Lenders
FILE - This July 28, 2012, file photo, shows JPMorgan Chase office in London. JPMorgan Chase, the country's biggest bank by assets, reported a record quarterly profit Friday, Oct. 12, 2012. The bank said it made $5.3 billion in earnings for common shareholders, a widely used measurement, from July through September, up 36 percent from the same period a year ago. (AP Photo/dapd,Timur Emek)
FILE - This July 28, 2012, file photo, shows JPMorgan Chase office in London. JPMorgan Chase, the country's biggest bank by assets, reported a record quarterly profit Friday, Oct. 12, 2012. The bank said it made $5.3 billion in earnings for common shareholders, a widely used measurement, from July through September, up 36 percent from the same period a year ago. (AP Photo/dapd,Timur Emek)

JPMorgan Chase will make changes to protect consumers who have borrowed money from a rising power on the Internet -- payday lenders offering short-term loans with interest rates that can exceed 500 percent.

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