On the same day prosecutors charged two former JPMorgan Chase & Co. employees with concealing $6.2 billion of losses on derivatives trades, the bank persuaded bond investors to lend it money for 30 years at an interest rate less than similar securities.
Banks supervised by the Consumer Financial Protection Bureau now face penalties if they mistreat consumers while collecting debts, the latest move in a broader crackdown on debt-collection practices the agency has pursued since last year.
JPMorgan Chase & Co. was warned by U.S. energy-market authorities that they may take action against its employees as part of an inquiry into bidding practices, the New York Times said, citing a document it reviewed.
JPMorgan Chase & Co., the biggest U.S. bank, has hired former U.S. Securities and Exchange Commission enforcement chief William McLucas to help respond to regulatory probes of the firm’s $2 billion trading loss, according to two people with knowledge of the assignment.
JPMorgan Chase & Co. could have spotted trouble at its chief investment office long before traders there racked up at least $2 billion in losses. One reason it didn’t: Chief Executive Officer Jamie Dimon.