JPMorgan Chase & Co., enmeshed in legal battles with regulators, U.S. agencies and clients, agreed with 21 institutional investors to pay $4.5 billion to resolve claims the bank sold faulty mortgage securities.
Bank of America Corp., the second- biggest U.S. lender, said the Department of Justice may file another suit tied to mortgage bonds and raised its estimate of possible added losses from legal and regulatory matters by 82 percent to $5.1 billion.
JPMorgan Chase & Co.’s record $13 billion deal to end U.S. probes of its mortgage-bond sales would free the nation’s largest bank from mounting civil disputes with the government while leaving a criminal inquiry unresolved.
JPMorgan Chase & Co.’s tentative agreement to pay a record $13 billion to end civil claims over its sales of mortgage bonds, a deal that won’t absolve the bank of potential criminal liability, hasn’t shaken some investors’ faith in Chairman and Chief Executive Officer Jamie Dimon.
An instant-message group involving senior traders at banks including Barclays Plc, Citigroup Inc. and Royal Bank of Scotland Group Plc is being scrutinized by regulators investigating potential manipulation of the foreign- exchange market, four people with knowledge of the probe said.
Americans are feeling more secure about their own finances with stock and home values rising, even as a growing number say the country is headed down the wrong track, according to a Bloomberg National Poll.
Moore Capital Management LLC, the hedge fund that had boosted its JPMorgan Chase & Co. investment earlier this year, joined other firms in selling the bank’s shares following a multibillion-dollar trading loss.
Jamie Dimon will seek to restore investor confidence this week after a trading loss wiped out $39 billion of JPMorgan Chase & Co.’s market value and marred his reputation as one of the industry’s best risk managers.
The biggest U.S. banks including JPMorgan Chase & Co. and Citigroup Inc. are lending the smallest portion of their deposits in five years as cash floods in from savers and a slow economy damps demand from borrowers.