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JPMorgan Chase & Co. (JPM)

  • Dec. 31, 2012, 2:37 AM
    Fourteen banks are reportedly set to reach a $10B settlement with regulators over abusive foreclosure practices such as incorrect paperwork and excessive charges. The banks include the five that agreed to pay $26B in another deal earlier this year - JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Citigroup (C) and Ally Financial. The latest settlement will allow banks to end a review of 4M loan files that has cost 1.5B so far.
  • Dec. 21, 2012, 8:56 AM
    The OCC is on the case and expected to take formal action demanding JPMorgan (JPM) shore up its risk controls in wake of the London Whale trading losses (we forget, did these hit this year or last?). JPMorgan, of course, has spent months rejiggering its organizational chart to prevent another occurrence.
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  • Dec. 20, 2012, 2:52 PM
    JPMorgan (JPM) has reportedly purchased online coupon firm Bloomspot for $35M, and will roll the Groupon competitor's roughly 100 employees into its credit card unit. Things have calmed down in this arena - Bloomspot's investors will get back about two-thirds of their invested capital.
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  • Dec. 19, 2012, 1:16 PM
    Morgan Stanley is out with mostly positive calls on a slew of big-cap banks, with C, JPM, COF, and STI their top picks. Downgraded to Neutral, however, are WFC, USB, and BBT.
  • Dec. 19, 2012, 12:14 PM
    Are Jefferson County and a dozen other U.S. municipalities listening? In Italy, Deutsche Bank (DB), JPMorgan (JPM), and UBS are among the 4 banks fined €1M each and having employees sent to prison for fraud in the sale of derivative products linked to a Milan bond issue. The case could be a precedent-setting one as cases involving other local Italian governments are in the works.
  • Dec. 19, 2012, 10:29 AM
    JPMorgan's market share slips to 7.6% from 8.1% this year, but it continues to rank first in the investment banking business, according to Dealogic. Of $63.6B in global IB in 2012 (-9% Y/Y), JPM garnered $4.8B, 17% more than 2nd place BAML. Rounding out the top 4 are Goldman Sachs and Morgan Stanley.
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  • Dec. 18, 2012, 1:07 PM
    JPMorgan (JPM) names Kevin Watters CEO of Mortgage Banking. A 13-year veteran of the bank, Watters previously was in charge of mortgage origination. (PR)
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  • Dec. 17, 2012, 12:19 PM
    The Bear Stearns purchase comes back to haunt again as JPMorgan (JPM) is sued by the National Credit Union Administration over the sale of $3.6B in toxic MBS during the property bubble. Last month, the bank settled with the SEC for $297M over the alleged MBS malfeasance of Bear Sterns.
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  • Dec. 12, 2012, 3:32 AM
    The SEC pressed JPMorgan (JPM) to improve investor disclosures on its proprietary trading almost a year before its $6.2B London Whaling trading fiasco at its Chief Investment Office. In May this year, JPMorgan asserted that the derivatives trade that led to the loss was a hedge against a weakening economy rather than a proprietary bet. It's not a claim that suing investors are buying.
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  • Dec. 12, 2012, 3:17 AM
    The Fed is reportedly discouraging the top U.S. banks from making large acquisitions as it informally uses powers it received under the Dodd-Frank Law and attempts to limit the ability of banks to threaten the stability of the financial system should they fail. Those told not to make major purchases include Capital One Financial (COF) after its $9B acquisition of ING's U.S. online business.
  • Dec. 11, 2012, 2:07 PM
    JPMorgan Chase (JPM) declares $0.30/share quarterly dividend, in line with previous. Forward yield 2.84%. For shareholders of record Jan. 04. Payable Jan. 31. Ex-div date Jan. 02. (PR)
  • Dec. 11, 2012, 2:04 PM
    Not daring the Administration to get cross with it, JPMorgan (JPM) declares a quarterly dividend of $0.30 payable after the New Year. (PR)
  • Dec. 10, 2012, 6:03 AM
    The Bank of England and FDIC unveil the first cross-border plan to deal with too-big-to-fail banks that start...failing. Senior management would be sacked, shareholders would be wiped out, and unsecured bondholders "can expect that their claims would be written down to reflect any losses that shareholders cannot cover," which didn't happen in the financial-crisis bailouts. (PR)
  • Dec. 7, 2012, 11:41 AM
    JPMorgan (JPM) may be buying back less shares than expected in 2013, says Wells Fargo's Matt Burnell, after a meeting with Jamie Dimon. Despite his belief the bank has more capital than necessary, Dimon is biding his time until the overcapitalization of the entire industry becomes more apparent to regulators (soon, he believes).
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  • Dec. 7, 2012, 8:18 AM
    Not so bad considering the London Whale losses, JPMorgan's (JPM) bonus pool for the corporate and investment bank is expected to shrink no more than 2% this year, according to executives in the know. "(They're) the luckiest folks on earth," says SNL Financial's Nancy Bush.
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  • Dec. 4, 2012, 11:56 AM
    JPMorgan (JPM) continues to futz with its organizational chart, according to an in-house memo, putting responsibility of banking client coverage under the Investment Banking and Treasury Services heads, while leaving up in the air the role for Greg Guyett, who formerly held the title of CEO of the Global Corporate Bank.
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Company Description
JPMorgan Chase & Co is a financial services firm and a banking institution. its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset Management.
Sector: Financial
Country: United States