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JPMorgan Chase’s list of legal challenges

A man walks into a JPMorgan Chase & Co. building in New York's financial district. Since the financial crisis, JPMorgan Chase has a long list of legal challenges beyond the $6 billion trading loss known as the "London Whale”. AP file photo

The London Whale trading loss is JPMorgan Chase’s legal headache-of-the-week, but it’s hardly its only problem.

Posted: August 13th, 2013 in Latest Business Stories | Read More »

JPMorgan to slash 19,000 jobs by end-2014

JPMorgan

US banking giant JPMorgan Chase plans to eliminate 19,000 jobs by the end of 2014 as it seeks to rein in costs, the company said Tuesday in an investor presentation.

Posted: February 27th, 2013 in Latest Business Stories | Read More »

A look at bank scandals since the financial crisis

People walk past a logo of HSBC headquarters in Hong Kong. HSBC, the British banking giant, will pay $1.9 billion to settle a money-laundering probe by federal and state authorities in the United States, a law enforcement official said Monday Dec. 10, 2012. AP/Vincent Yu

HSBC’s record $1.9 billion payment to settle a U.S. investigation into money laundering that involved Mexican drug cartels and nations such as Iran is a new setback for the reputation of banks after a series of headline-grabbing scandals.

Posted: December 11th, 2012 in Latest Business Stories | Read More »

White House urges bank reforms after JPMorgan loss

Automobiles pass a JP Morgan Chase building Thursday, May 10, 2012, in New York. JPMorgan Chase, the largest bank in the United States, said Thursday that it lost $2 billion in the past six weeks in a trading portfolio designed to hedge against risks the company takes with its own money. The company's stock plunged almost 7 percent in after-hours trading after the loss was announced. Other bank stocks, including Citigroup and Bank of America, suffered heavy losses as well. (AP Photo/Frank Franklin II)

The White House stepped up pressure for tighter bank regulation Monday after JPMorgan Chase’s $2 billion derivatives loss, as the bank said the top official responsible for the loss had resigned.

Posted: May 15th, 2012 in Latest Business Stories | Read More »

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