JPMorgan fined $250 million for problems in advisory business
The Office of the Comptroller of the Currency says JPMorgan Chase’s fiduciary unit lacked sufficient controls to manage risk and avoid conflicts of interest. ... Read full article
The Office of the Comptroller of the Currency says JPMorgan Chase’s fiduciary unit lacked sufficient controls to manage risk and avoid conflicts of interest. ... Read full article
JPMorgan Chase dropped one rung on the Financial Stability Board’s annual rankings of systemically important banks to sit alongside Citigroup and HSBC Holdings as one of the world’s three most important banks. ... Read full article
JPMorgan Chase is going on the “offensive” in mortgages as home prices rise across the country, said Marianne Lake, the bank’s chief executive for consumer lending. ... Read full article
Vendors such as eFinancialCareers, Paradox and pymetrics work with banks to assess job applicants based on their skills and not other factors. But the technology has its limits. ... Read full article
“The asset management industry in particular has found it is quite productive to work from home,” says Mary Erdoes, who runs asset and wealth management at JPMorgan Chase. ... Read full article
Some banks and credit unions boarded up branches and closed early in anticipation of unrest tied to the tense presidential race. ... Read full article
Some banks and credit unions boarded up branches and closed early in anticipation of unrest tied to the tense presidential race. ... Read full article
The company said one of its regulators may impose a civil money penalty related to compliance deficiencies in its advisory business and other areas. The matter echoes a recent fine imposed on Citigroup, one expert says. ... Read full article
The industry has enjoyed lower tax rates and regulatory relief during the current administration, but individual donations from the eight largest banks favor the Democratic nominee by more than 4-to-1. ... Read full article
After selling the rights to its Ethereum-based technology, the bank is rebranding a venture related to cross-border payments and creating a new umbrella group to oversee all blockchain-related efforts. ... Read full article
Rob Holmes, who will join the Dallas company in January, has been the global head of corporate client banking and specialized industries at JPMorgan Chase. ... Read full article
Many credit unions offer youth accounts to help establish early banking relationships, but a new account for kids from the nation’s largest bank has raised the level of competition. ... Read full article
Four of the nation's largest banks updated their progress in recent days on return-to-office plans. The takeaway: Most workers won't be back anytime soon. ... Read full article
The banking giant may be sitting pretty with plenty of money reserved for bad loans — or it could have to set aside billions more in coming quarters. It hinges on an ongoing U.S. recovery and the passage of a new stimulus package. ... Read full article
Chase First Banking is embedded in the bank's mobile app and has parental controls. It is an example of how banks are trying to attract Generation Z. ... Read full article
The company defied expectations by cutting its reserve for loan losses by $569 million, after adding $20 billion to the allowance in the first half. ... Read full article
The JPMorgan Chase CEO, among the biggest Wall Street proponents of returning workers to the office, doesn’t see life returning to some form of normal until mid-2021 at the earliest. ... Read full article
The company says it plans to originate 40,000 mortgages for Black and Hispanic households and finance 100,000 affordable rental units over five years. ... Read full article
JPMorgan Chase is planning to set emissions targets for its financing portfolio, joining other massive banks in bringing climate goals to its lending activity. ... Read full article
New rules on shareholder submissions of proxy proposals could help banks fend off demands to disclose more pay data, cut financing to fossil fuels companies and adopt other reforms. ... Read full article