Days after disclosing a massive derivatives trading loss, JPMorgan Chase was hit with three shareholder lawsuits accusing …
JP Morgan Chase
‘Whale’ Fail: JPMorgan’s $2 Billion Blunder Tied to London Trader
Almost immediately after the stock market closed yesterday, JPMorgan Chase asked Wall Street analysts to attend a highly unusual, hastily assembled, postmarket conference call. Speculation was rampant: What could be so urgent? A …
Robosigning Redux? Regulator Probes Chase Over Credit Card Collections
The Office of the Comptroller of the Currency is reportedly taking a good, hard look at the practices that credit card giant JP Morgan Chase used in its credit card collections business. American Banker has reported at length on …
JPMorgan Chase Agrees to Pay $110 Million in Overdraft Class-Action Lawsuit
JPMorgan Chase & Co. is one step closer to a possible settlement of a class-action lawsuit brought against a number of banks over their so-called transaction-ordering practices. “We’re pleased to have reached an agreement in …
More Fees, Fewer Branches As Banks Cope With Lower Profits
Several big banks have reported their earnings over the past week, and the results aren’t pretty: JP Morgan Chase & Co. had a 23% drop in profits, Citigroup’s fell 11% and regional bank PNC Financial Services Group suffered a 40% …
The Big Banks That Aren’t Adding Debit Card Fees*
*What’s the asterisk for? Well, while several big banks say they won’t start charging monthly fees for debit cards a la Bank of America, in most cases they are adding other fees or changing account requirements to increase …
Debit Card Rewards Aren’t Dead
Most banks have been killing off or scaling back their debit card reward programs. JP Morgan Chase, for instance, is scheduled to end its programs for nearly all debit card customers next week, with interchange swipe fee changes cited as a main reason for the debit reward demise. Just as the typical brick-and-mortar-based bank’s perks …
Bank Branches Are Closing; People Using Nearby ATMs Don’t Notice
The typical town’s main drag seems to have a bank in every third or fourth storefront, often with branches from the same institution within a few blocks of each other. But do consumers really need banks to be as ubiquitous as …
