JPMorgan Chase & Co. and two other banks rejected a European Union deal to end an antitrust probe into the rigging of Euribor lending rates, risking higher fines and challenging the future of the EU’s settlement process.
JPMorgan Chase & Co., the largest U.S. bank by assets, is weighing whether to ban traders from using electronic chat rooms to communicate with peers at other firms as the forums draw scrutiny from global regulators, according to a person with knowledge of the matter.
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon went to Washington almost a month ago to see if U.S. Attorney General Eric Holder would settle a criminal probe of mortgage fraud at the bank if it paid more money to resolve related civil investigations.
JPMorgan Chase & Co.’s advantage over its Wall Street peers is fading in the eyes of credit- derivatives traders as fines and regulator probes hobble profits while firms from Citigroup Inc. to Morgan Stanley rebound.
JPMorgan Chase & Co., the largest U.S. bank, agreed to pay $100 million to resolve Commodity Futures Trading Commission claims that the company’s London traders last year deployed a reckless strategy in derivatives.
Credit Suisse Group AG and Citigroup Inc. are among banks grappling with a round of U.S. probes into mortgage-bond sales, as the government uses a 1989 law to extend scrutiny of Wall Street’s role in the credit crisis and seek additional penalties from the industry.
JPMorgan Chase & Co.’s tentative $13 billion settlement will include about $3 billion for states and federal regulators, much of which may be passed on to investors who bought faulty mortgage-backed securities, according to two people briefed on the matter.
A decade after Sanford “Sandy” Weill stepped down as Citigroup Inc.’s chief executive officer amid a cascade of regulatory investigations and lawsuits, JPMorgan Chase & Co. CEO Jamie Dimon’s legal expenses are surpassing those of his one-time mentor.
JPMorgan Chase & Co. resumed settlement talks with the U.S. as the government was preparing to sue the bank in California alleging it misrepresented the quality of mortgage-backed securities sold from 2005 to 2007, according to a person familiar with the matter.