JPMorgan Chase & Co. and Goldman Sachs Group Inc. units were sued by two pension funds over claims they made misleading statements about the exposure of MF Global Holdings Ltd. securities to European sovereign debt.
JPMorgan Chase & Co. and the biggest U.S. banks face billions of dollars in legal costs related to their role in the financial crisis, threatening their profits and the stock price gains they made in 2010, Bloomberg News’s Linda Sandler reports, citing analysts.
Capital One Financial Corp., with more than 250 branches in New York, agreed to limit its use of customer-screening databases that barred many low-income consumers from getting bank accounts, state officials said.
JPMorgan Chase & Co. agreed to pay $1.7 billion to settle U.S. claims that it facilitated Bernard Madoff’s Ponzi scheme, the largest in U.S. history, resolving yet another legal obstacle facing the embattled bank.
Bruno Iksil, the JPMorgan Chase & Co. trader known as the London Whale, had an e-mail sent to about 20 colleagues last year estimating almost double the daily losses his book had shown thus far. Then the phone rang.