Heidi Miller , a confidant of Jamie Dimon for almost two decades, more than quintupled pretax profit at JPMorgan Chase & Co. ’s treasury unit since taking over the division in 2004. Her reward: a newly created job heading all of the company’s international operations.
Wells Fargo & Co. failed to convince a federal appeals court that a multibank mortgage settlement in 2012 barred the government from suing over home lending practices it claims led to hundreds of millions of dollars in federal insurance payouts.
Todd Vitale, a personal trainer who opened his own gym last year, said he was having difficulty getting a mortgage of more than $700,000 to buy a home in Greenwich, Connecticut, because his new business was untested.
Goldman Sachs Group Inc. and JPMorgan Chase & Co. are among Wall Street firms likely to rally if Mitt Romney is elected president, giving U.S. banks a reprieve from being top political targets, according to FBR Capital Markets Corp. analysts.
Faulty foreclosures may cost U.S. lenders $2 billion for every month that home seizures are delayed and the tab could reach $6 billion, according to Paul Miller , the bank analyst at FBR Capital Markets.
Rising bond yields are typically indicators of stronger economic growth and higher profits for banks. That might not be the case this time, as a 30-year bull market in U.S. government debt shows signs of coming to an end.