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JPMorgan To Cut Thousands Of Jobs

Reuters | Posted 02.25.2014 | Business

(Reuters) - JPMorgan Chase & Co , the largest U.S. bank, is reducing both its profit target and headcount in 2014, according to a Tuesday presentation...

Madoff Deal Could Cost Bank Billions

Reuters | Posted 03.08.2014 | Business

Jan 5 (Reuters) - JPMorgan Chase & Co is nearing a $2 billion settlement with federal authorities to resolve suspicions that the bank ignored signs ...

JPMorgan, Fed Battled Over Controversial Business

Reuters | Posted 01.27.2014 | Business

By David Sheppard and Josephine Mason LONDON/NEW YORK, Nov 27 (Reuters) - The U.S. Federal Reserve was pressing JPMorgan Chase & Co to dist...

Zach Carter

Wall Street 'Cash Committee', In Congress To Lose Hardest Hitting Members

HuffingtonPost.com | Zach Carter | Posted 06.20.2012 | Politics

WASHINGTON -- Some of the toughest questions for JPMorgan Chase CEO Jamie Dimon during Tuesday's House Financial Services Committee hearing came from ...

How J.P. Morgan Chase Has Made the Case for Breaking Up the Big Banks and Resurrecting Glass-Steagall

Robert Reich | Posted 07.11.2012 | Business
Robert Reich

What just happened at J.P. Morgan reveals how fragile and opaque the banking system continues to be, why Glass-Steagall must be resurrected, and why the Dallas Fed's recent recommendation that Wall Street's giant banks be broken up should be heeded.

BofA To Pay Hundreds Of Millions For Overcharging Customers

Posted 07.23.2011 | Business

NEW YORK (By Jonathan Stempel) - Bank of America Corp has won tentative approval of a $410 million settlement of lawsuits accusing it of charging ...

Shahien Nasiripour

JPMorgan Chase Profit Jumps 23% To $4.4B

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

This story was updated at 6:00 p.m. ET. JPMorgan Chase, the second-largest U.S. bank by assets, reported a 23 percent increase in profit Wednesday, t...

JPMorgan 1Q Earnings 2010: Bank Pulls In $3.3B On Trading Gains

AP | STEVENSON JACOBS | Posted 05.25.2011 | Business

NEW YORK — JPMorgan Chase & Co. reported a $3.3 billion first-quarter profit on big gains in the financial markets even as the Obama administrat...

JPMorgan Profit 4Q: Bank Profit Soars

AP | STEPHEN BERNARD | Posted 05.25.2011 | Business

NEW YORK — JPMorgan Chase & Co.'s $3.28 billion profit report carried a sobering message: Consumers are still struggling to pay off their loans,...

JPMorgan Earings: Bank Posts $3.6 Billion Profit, Despite Big Loan Losses

AP | STEPHEN BERNARD | Posted 05.25.2011 | Business

NEW YORK — JPMorgan Chase & Co. reported strong third-quarter earnings Wednesday as its thriving investment banking business more than offset rising loan losses that the bank warned would continue for the foreseeable future.

JPMorgan, the first of the big banks to report earnings for the July-September period, reported a $3.59 billion profit but also said it roughly doubled the amount of money it set aside for failed home and credit card loans in the quarter.

The bank's stock rose on the news, helping to lift the overall market and send the Dow Jones industrials above 10,000 for the first time in a year. Still, JPMorgan's performance shouldn't be taken as a forecast for how well other banks did during the quarter. Many financial companies don't have such big investment banking operations, which includes trading of stocks and bonds and allowed JPMorgan, the nation's largest bank by assets, to overcome its loan losses.

Bart Narter, a senior vice president at consulting firm Celent, said JPMorgan's results showed a clear trend that "Wall Street is picking up quite smartly, while Main Street continues to suffer."

Banks including JPMorgan have predicted for some time that their loan losses would keep rising. And in JPMorgan's earnings statement, CEO Jamie Dimon confirmed that this trend continues.