The bank reported a Q3 net loss of $380 million.
Banking
New York Sues Nation’s Top Mortgage Lender
Attorney general says Wells Fargo violated the terms of a 2012 agreement on homeowners
Meet the New Payday Loan Customer: Middle-Class, Well-Educated
Fringe financial services like check cashing storefronts, pawn shops and payday lenders carry plenty of stereotypes. Namely that their patrons are not well off and likely made up of the working poor who may not have college …
Money Talking: JP Morgan’s $11 Billion Would Send the Wrong Message
Is $11 billion a lot to pay for causing some of the mischief that caused the financial crisis? That’s what Justice Department officials in Washington are currently trying to decide. The $11 billion in question is the potential …
New Fund Will Allow Investors to Bet on Bitcoins
Marketplace SecondMarket is raising money for the Bitcoin Investment Trust, the first investment fund in the United States to hold the virtual currency.
“We want to make it an accessible asset class,” SecondMarket CEO Barry …
Foroohar: The Fed Is Making the Two Americas Problem Worse
The Federal Reserve Bank isn’t supposed to be political. But, of course, it is. Just look at the recent decision to delay “tapering,” or scaling back the $85 billion a month asset buying spree that the bank has been on for …
Chase’s $309 Million Refund to Customers May Not Change Much
The Consumer Financial Protection Bureau ordered Chase and JPMorgan Chase to refund $309 million in charges to more than 2.1 million people and pay a $20 million fine for illegal credit-card practices. And yet, that may not change much.
JP Morgan Slammed With $920 Million in Fines for “London Whale” Trades
The “London Whale” Torpedoed in Trading Scandal
White House Official: Yellen Is New Front-Runner for Fed Job
A White House official said Janet Yellen, the Federal Reserve vice chair, is the top contender to replace the chairman in February, Reuters reports
The White House is looking to limit the widespread speculation that existed before the previous White House favorite, former economic adviser Larry Summers, withdrew his name from …
A Whale of a Fine: JPMorgan to Pay $900 Million for Trading Scandal
A settlement will have the bank forking out money to a slew of regulators in the U.S. and London
Foroohar: Turn Off the Money Spigot
Markets cheer end of Larry Summers, but a slowdown could be around the corner
Explaining the Financial Crisis: Why Do We Still Not Know What Happened?
Five years after the Lehman Brothers bankruptcy kicked off the largest economic dislocation in the U.S. since the Great Depression, we are still debating what needs to be done to make the financial system safer. We are also still …