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Regulator: JPMorgan had ‘inadequate’ risk controls

A top federal regulator says JPMorgan Chase had weak controls in place to contain risk in its investment division that suffered a $2 billion-plus trading loss. U.S. Comptroller of the Currency Thomas Curry is telling a Senate panel that the nation’s largest bank began reducing the amount of hedging it was doing to minimize potential… Continue Reading Regulator: JPMorgan had ‘inadequate’ risk controls

Business aviation sector still recovering

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The business aviation sector isn’t improving with the rest of the economy, says a new report from J.P. Morgan Chase that focuses on new airplane sales for business customers. Signals are mixed in the sector – high end airplane sales are up, while sales of less expensive airplanes are down. Sales are healthiest for heavy… Continue Reading Business aviation sector still recovering

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JPMorgan Chase & Co. reported a 67 percent jump in first quarter earnings Wednesday on solid growth in investment banking fees and a drop in losses in its credit card portfolio. The New York bank earned $5.6 billion, or $1.28 per share, compared with $3.3 billion, or 74 cents a share in the same period… Continue Reading JPMorgan’s net jumps 67 pct on investment banking

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JPMorgan Chase & Co. on Tuesday announced new programs geared toward military customers and veterans, and apologized for overcharging thousands of active-duty service members on mortgages, and improperly foreclosing on more than a dozen. The steps include a program making certain military personnel eligible for reduced-rate mortgages; enhancing a mortgage modification program for personnel who… Continue Reading JPMorgan aims to make amends with military clients

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