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JPMorgan Chase (NYSE: JPM) Executive Leads Charge For Raising Debt Ceiling
Matthew Zames, chairman of a Treasury Department advisory panel and a managing director at JPMorgan Chase & Co. (JPM), said failure to raise the nation’s $14.3 trillion debt limit could be “catastrophic.” By now, you’ve... More of this article »
Look Out Below! Citigroup (C) Leads the Big Banks in Reporting Lower Loan Balances
Citigroup (C), Bank of America (BAC), Wells Fargo (WFC), and JPMorgan Chase (JPM) all reported lower outstanding loan balances in the first quarter. CNNMoney is reporting that all told, average loans outstanding at the four banks dropped... More of this article »
Naming Names: Judge Alledges JPMorgan Chase (NYSE: JPM) Execs Knew About Madoff
CNNMoney.com is reporting that the federal bankruptcy court judge presiding over the Bernard Madoff case has revealed the JPMorgan Chase (JPM) employees who allegedly suspected they were doing business with a Ponzi schemer. JPMorgan... More of this article »
Bank of America (NYSE: BAC) Posts Lower-than-Expected Earnings, Increases Reserves for Mortgage-Related Costs
Trying to brush aside their unexpected loss at the end of last year, Bank of America (BAC) posted a first-quarter profit Friday. In the report, BAC reported a profit of $2 billion, or 17 cents a share, for the first quarter. That... More of this article »
J.P. Morgan Chase (NYSE: JPM) Offers Mixed Bag in Earnings Report
The good news in J.P. Morgan Chase’s (JPM) first-quarter earnings report came from strong results in their credit card, commercial banking, and asset management businesses. In addition to a first-quarter profit that shattered expectations,... More of this article »
JPMorgan Chase (NYSE: JPM) CEO Jamie Dimon Warns Against “Complicated Regulatory” Environment
As chief executive of JPMorgan Chase, you would expect that Jamie Dimon might not be “all in” when it comes to the new financial regulation coming out of Washington. Still, it was a little surprising to hear him launch into what... More of this article »
U.S. Bancorp (NYSE: USB) Says Discount Window Was the Most “Economic Alternative” at Times
In a twist on a phrase, “borrowing” it could be said is in the eyes of the beholder. At least that’s the word coming from U.S. Bancorp (USB). The Federal Reserve has released information regarding which of the nation’s banks... More of this article »
Customers of JPMorgan Chase (NYSE: JPM), Citigroup (NYSE: C), Capital One (NYSE: COF), and US Bancorp (NYSE: USB) May Have E-Mail Addresses Hacked
Customers of some of the nation’s largest companies, including many of the nation’s largest banks, may begin to receive a flood of unwelcome mail due to a security breach at a national third-party email fulfillment company. JPMorgan... More of this article »
Goldman Sachs (NYSE: GS) CEO Blankfein Doubles Bonus in 2010.
It’s hard to say that things have really changed on Wall Street when a bad year for Goldman Sachs (GS) results in CEO Lloyd Blankfein receiving a total compensation of $18.6 million. In an article on Street Sweep, Colin Barr reported... More of this article »
Will JPMorgan Chase (NYSE: JPM) and Bank of America (NYSE: BAC) Impose a Debit Card Limit?
Well maybe that need to decline overdraft protection wasn’t really necessary after all. Imagine being out for dinner with your family and having your debit card declined. Not because of insufficient funds. But because you decided... More of this article »
Bank of America (NYSE: BAC) and JP Morgan Chase (NYSE: JPM) State Foreclosure Penalties May Have “Material” Impact
Bloomberg is reporting that Bank of America Corp. (BAC) and JPMorgan Chase & Co. (JPM) are saying they may have to pay “material” monetary penalties stemming from the ongoing investigation into foreclosure practices and mortgage... More of this article »
Citigroup (NYSE: C) Finding a Line of Buyers for CitiFinancial Unit
As part of an ongoing effort to restructure its business operations, Citigroup (C) has put CitiFinancial, its consumer finance unit, up for sale. And according to a report by Bloomberg, there is no shortage of potential buyers. The... More of this article »
Bank of America (NYSE: BAC) Tests NFC Mobile Payments on BlackBerry Smartphones
In an indication of how smartphones are becoming an indispensable part of our daily lives, Bank of America (BAC) is conducting a trial that will allow select customers to test mobile payments on Blackberry smartphones in Atlanta, New... More of this article »
JPMorgan Chase (NYSE: JPM) Projecting Up To $4.5 Billion in Legal Losses
JPMorgan Chase (JPM) may be coming soon to a courtroom near you. And that’s not good news for the second-biggest U.S. bank by assets. In coming years, the bank is anticiating legal losses could exceed what they have set aside by... More of this article »
Bank of America (NYSE: BAC), Citigroup (NYSE: C) Leading the Way With Preferred Stock Dividends
There’s been a lot of speculation regarding whether or not the banks that received TARP funding would be allowed to issue dividends. However, if you’re willing to take a little risk for a guaranteed dividend, then you may be interested... More of this article »
JPMorgan Chase (NYSE: JPM) CEO Jamie Dimon Could Receive Up to $17 Million in Compensation
They may not be the number one bank in assets, but in terms of CEO compensation, JPMorgan Chase (JPM) can say they’re number one. After posting a $17.4 billion profit for 2010, JPMorgan Chase & Co. awarded Chief Executive Jamie... More of this article »
JPMorgan Chase (NYSE: JPM) Investor Day Festivities Show Thorny Issues Won’t Go Away
Despite a rosy outlook for expansion and a projected dividend increase, JPMorgan Chase (JPM) CEO Jamie Dimon faced thorny questions that show the obstacles banks continue to face in 2011. In remarks to reporters at the bank’s annual... More of this article »
Should You Bet on Bank of America (NYSE: BAC) to Raise Its Dividend?
As earnings season proceeds in earnest, all of the big banks have reported in, and hope to receive regulatory approval to increase their dividends. That list includes Charlotte-based Bank of America (BAC). However, the biggest U.S.... More of this article »
Wells Fargo (NYSE: WFC) Not Settling With Fannie Mae, Freddie Mac Over Faulty Mortgages
Wells Fargo (WFC) said Wednesday that it won’t follow Bank of America (BAC) in reaching settlements with Fannie Mae or Freddie Mac on disputed mortgages sold to the mortgage financing giants. On Dec. 31, Bank of America, based in... More of this article »
Wells Fargo (NYSE: WFC) to Modify $2.4 Billion of Mortgage Loans in California
The Wall Street Journal is reporting that Wells Fargo & Co. (WFC) is agreeing to an estimated $2.4 billion is mortgage modifications for California homeowners. California is the ninth state to reach an agreement with Wells Fargo.... More of this article »
First Horizon National Corp (NYSE: FHN) Reveals TARP Repayment Plan, But Will Other Regional Banks Follow?
First Horizon National Corp (FHN) said it is selling debt and equity to pay off $867 million of TARP aid. First Horizon’s shares rose as investors cheered its move to shed government support. Analysts said the repayment plan... More of this article »
Bank of America (NYSE: BAC) Changes Course and Begins Settlement Discussions with Mortgage Investors
The Wall St. Journal is reporting that Bank of America Corp. (BAC), after vowing to fight requests that it repurchase certain loans, has begun potential settlement discussions with some of its largest mortgage investors. The 17-member... More of this article »
Re-Engineered Citi (NYSE: C) Pays Back Treasury – Poised For Growth
A recent blog post from Zacks shows that the reports of Citigroup Inc.’s (C) demise, were premature at best. The optimism surrounding Citi’s recovery goes well beyond finalizing its final sale of all bailout funds received from... More of this article »