Six high-street banks including Santander, Barclays, HSBC, NatWest and Lloyds given ‘red’ warning over eco policies October 5, 2023 Six of the UK’s biggest high-street banks have been placed in a “red” warning category by consumer champion Which? over their fossil fuel investments and commitments to tackling climate change. JP Morgan Chase, Santander, Barclays, HSBC, NatWest Group and Lloyds Banking Group were exposed for having too weak green credentials. Just three of the UK’s [...]
Goldman, JP Morgan and Bank of America hit with fines for swap reporting failures September 30, 2023 The US Commodity Futures Trading Commission (CFTC) on Friday ordered Goldman Sachs, Bank of America and JP Morgan to pay a total of over $50m to settle charges of swap reporting failures and other violations, the agency said.
JP Morgan’s Chase will ban crypto payments starting from mid-October September 26, 2023 Chase UK is banning customers from making crypto payments from mid-October citing concerns over financial crime.
London court gives green light to £2.7bn foreign exchange claim against six major banks July 25, 2023 The Court of Appeal ruled today that a £2.7bn class action claim relating to foreign exchange manipulation can proceed on an opt-out basis. The claim, brought by FX Claim UK, represents tens of thousands of participants in the foreign exchange market who suffered damages from the anticompetitive behaviour of six of the largest banks in [...]
JP Morgan profits jump as bank benefits from rising rates – but boss Jamie Dimon warns of ‘salient risk’ July 14, 2023 JP Morgan beat expectations again as it reaped the rewards of rising interest rates and its takeover of First Republic, but the bank boosted loss provisions significantly. In the second quarter, the Wall Street giant recorded net income of $14.5bn, 67 per cent higher than last year and ahead of analyst expectations. Its shares were [...]
JP Morgan hires 20 new bankers to expand push into startup sector post-SVB collapse July 12, 2023 JP Morgan has bolstered its ranks with a series of hires as it attempts to expand its offering to start-ups and high growth companies following the collapse of Silicon Valley Bank (SVB). The Wall Street giant has hired almost 20 new bankers to support fast growing businesses in Europe, the Middle East and Asia, including [...]
JPMorgan agrees to settle with Epstein victim in class action suit June 12, 2023 JPMorgan agreed in principle to settle a class action lawsuit with a victim of Jeffrey Epstein, the bank said in a statement Monday. The settlement resolves one claim against the largest U.S. bank in a proposed class action by women who say Epstein abused them, and by the government of the U.S. Virgin Islands, where Epstein [...]
Ex-JP Morgan executive wrote Epstein ‘should not be a client’ in 2011 email June 1, 2023 A former JP Morgan Chase executive wrote in a 2011 email that the late financier and sex offender Jeffrey Epstein should not be a client of the bank, according to a transcript of a deposition of chief executive Jamie Dimon seen by Reuters. Dimon said in the deposition he was not aware of the email at [...]
Could JP Morgan boss Jamie Dimon run for President of the United States? Billionaire investor Bill Ackman thinks so June 1, 2023 Billionaire investor Bill Ackman has argued that JP Morgan boss Jamie Dimon should run for president after comments earlier this week suggesting Wall Street’s longest-serving bank boss would consider running. In a tweet, Ackman said “we need an exemplary business, financial, and global leader to manage through what is likely to be a critically important [...]
JP Morgan expects $3bn income boost from acquisition of First Republic May 22, 2023 JP Morgan predicts a $3bn boost to its interest income as a result of its acquisition of First Republic, revealing how the Wall Street giant benefitted from the regional banking crisis. According to a presentation made at its investor day, the US’s largest bank said it expects its net interest income to increase to $84bn, [...]