JPMorgan Chase

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JPMorgan Chase Head on Bitcoin Buyers: 'They're Stupid'

Jamie Dimon predicts big losses for the digital currency

(Newser) - Jamie Dimon says he would fire any employee caught trading bitcoin "in a second," the Guardian reports. "It’s against our rules, and they’re stupid. And both are dangerous," the head of JPMorgan Chase said at a conference Tuesday. According to Reuters , bitcoin dropped 10%... More »

'Almost an Embarrassment Being American': Jamie Dimon

JPMorgan CEO goes on anti-DC rant

(Newser) - During JPMorgan Chase's earnings conference call Friday, CEO Jamie Dimon went off on a bit of a tangent. "It's almost an embarrassment being an American citizen traveling around the world and listening to the stupid s--- we have to deal with in this country," he said... More »

Report: Ads Yanked Over Megyn Kelly's Sunday Interview

JP Morgan Chase apparently doesn't want its ads next to Alex Jones promos

(Newser) - Megyn Kelly's interview with conspiracy theorist Alex Jones is set to air Sunday on NBC, and there's been no shortage of outrage over her decision to give airtime to the man who says the Sandy Hook massacre was a hoax. The Wall Street Journal reports by way of... More »

He Left Prison With a $120 Debit Card. Then Came the Fees

JPMorgan Chase agrees to $447K settlement

(Newser) - That prisoners get gouged by private companies is not new news, but a class-action suit has brought a bit of relief. Bloomberg reports that JPMorgan Chase on Monday agreed to pay $446,822 to ex-cons who were released from federal prison with a pre-paid, non-refillable debit card in hand—only... More »

5 Big Banks Get Failing Grades on 'Living Wills'

They need to retool emergency plans quickly

(Newser) - Federal regulators say five of the biggest banks in the US haven't worked out strong plans for how they might reshape themselves in case of failure, which could leave them unable to survive without another taxpayer bailout, reports the AP . JPMorgan Chase, Bank of America, Wells Fargo, Bank of... More »

LeBron's Announcement Makes Ohio Families Gasp

Basketball star's foundation, U. of Akron to offer free rides to college

(Newser) - "As a kid growing up in the inner city ... you don't really think past high school. You don't really know your future." Those were the words of LeBron James in Sandusky, Ohio, yesterday as he announced how he plans to change that outcome: by offering full... More »

Biggest Banks Can Handle 'Severe' Recession: Fed

Reserve's 'stress tests' show 31 banks stronger than ever since 2008 crisis

(Newser) - All of the nation's 31 largest banks are adequately fortified to withstand a severe US and global recession and keep lending, the Federal Reserve said yesterday. Results of the Fed's annual "stress tests" show that as a group, the 31 banks are stronger than at any time... More »

5 Banks Fined $3.4B for Market Manipulation

Foreign exchange probe involves Citibank, JPMorgan Chase, HSBC

(Newser) - US, British, and Swiss regulators have fined five global banks for attempting to manipulate foreign exchange markets—the latest penalties for an industry previously criticized for rigging interest rates and for its role in triggering the global financial crisis. Citibank, JPMorgan Chase Bank, Royal Bank of Scotland, HSBC Bank, and... More »

Rolling Stone Profiles Chase Whistleblower

The article calls her the bank's 'worst nightmare'

(Newser) - Matt Taibbi, an American freelance journalist the New York Times describes as having an "avid following," is known for writing critically of Wall Street. Some may recall his 2010 Rolling Stone feature "The Great American Bubble Machine," in which he describes Goldman Sachs as "a... More »

JPMorgan Attack Hit 10 Financial Firms

Hackers likely working from Russia: report

(Newser) - The hacking of JPMorgan Chase—which was on par, size-wise, with the attack on Target —affected about nine other financial companies, too, the New York Times reports. Exactly which banks and brokerages those were isn't clear, nor is it certain if those breaches were as extensive as JPMorgan'... More »

JPMorgan Hack Was Huge: 76M Households

Bank reveals numbers involved with summer breach

(Newser) - News surfaced in August that hackers had gotten into customer data at JPMorgan Chase, but a regulatory filing today reveals that the hack was way bigger than originally thought: The nation's largest bank says the accounts of 76 million households and 7 million small businesses were compromised, reports Bloomberg... More »

Did Russian Cyberattackers Raid Big US Banks?

Feds suspect attacks could be payback for sanctions, sources say

(Newser) - The big banks are staying tight-lipped about it, but multiple sources say several major US financial firms were hit by hackers who made off with gigabytes of data earlier this month. The banks included JPMorgan Chase and at least four others, according to New York Times sources, who say the... More »

Feds, BofA Strike $17B Settlement

Justice announces largest deal it's ever reached

(Newser) - The Justice Department has announced a $16.65 billion settlement with Bank of America over its role in the sale of mortgage-backed securities in the run-up to the 2008 financial crisis. The deal announced today calls for the bank, the second-largest in the US, to pay a $5 billion cash... More »

BofA, Feds Near Biggest Settlement in US History

Justice Dept. deal would cost bank $16B-$17B for foreclosure mess

(Newser) - Bank of America is headed toward the biggest settlement to arise from the 2008 financial crash, a deal with the Justice Department reportedly worth $16 billion to $17 billion over its role in the sale of mortgage-backed securities, a source directly familiar with the matter tells the AP . The tentative... More »

JPMorgan CEO Has Throat Cancer

Jamie Dimon says prognosis is 'excellent'

(Newser) - JPMorgan Chase chief Jamie Dimon says he has been diagnosed with throat cancer—but it was caught early and he will be able to keep working while he is being treated. The 58-year-old CEO has told colleagues and shareholders that he will limit his travel during the eight weeks he... More »

JPMorgan Sinking $100M in Detroit Renewal

Effort aims to improve housing, offer job training

(Newser) - JPMorgan is moving to help a bankrupt city get back on its feet. The bank is putting $100 million, divided between loans and grants, toward Detroit's revitalization, the New York Times reports. The money is intended to help the city with an array of projects, including housing improvements, the... More »

China Regulator Asked JPMorgan for Hiring 'Favor'

Bank gave job to official's family friend

(Newser) - With JPMorgan Chase facing scrutiny over its hiring in China, the New York Times is raising questions about a worker who is a family friend of a Chinese insurance regulator. In June 2012, when JPMorgan was looking for work with Chinese insurance firms, CEO Jamie Dimon met with the regulator,... More »

JPMorgan Execs Unscathed in $1.7B Madoff Settlement

Fines will go to pay off victims

(Newser) - JPMorgan has officially signed off on a $1.7 billion settlement laying to rest complaints about its dealings with infamous Ponzi schemer Bernard Madoff. Prosecutors accuse the bank of turning a blind eye to Madoff's frauds—the bank filed a Suspicious Activity Report on Madoff with UK regulators in... More »

JPMorgan Is Being Punished for Not Being Evil Enough

Probe into firm's China hires is ironic, Matt Levine argues

(Newser) - A trove of emails have emerged in JPMorgan Chase's China corruption scandal , and they reveal a deep irony about the case: Essentially, "JPMorgan's mistake was not hiring Chinese princelings fast enough," argues Matt Levine at Bloomberg . The emails reveal that JPMorgan initially had a program preventing... More »

Target Shoppers: Chase Limits Use of Debit Cards

JPMorgan Chase reacts to data breach 3 days before Xmas

(Newser) - Still planning to shop at Target after its cache of debit and credit cards was hacked ? Hold on: JPMorgan Chase has limited its debit-card customers to $100 in withdrawals and $300 in total purchases daily at Target stores, NBC News reports. That only applies to roughly 2 million Chase... More »

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