Items Tagged with 'JPMorgan'

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  • JPMorgan Chase earnings increase, but reveal slowdown in mortgage sector

    Earnings down slightly from Q2 but much higher than 2017
    In the third quarter of 2018, JPMorgan Chase saw a decrease in its earnings from the previous quarter, but still managed to increase from the previous year despite a lackluster mortgage banking sector. JPMorgan Chairman and CEO Jamie Dimon said increasing economic and geopolitical uncertainties could have negative effects on the economy's future.
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  • JPMorgan expands blockchain network payments to 75 international banks

    Ledger network seeks to ease processing times for non-traditional payments
    JPMorgan has expanded blockchain-based payments to more than 75 international financial institutions in an effort to ease processing times for non-traditional payments. According to reporting by Financial Times (paywall), more than 75 banks, including Société Générale and Santander, are now testing the Interbank Information Network, or IIN.
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  • JPMorgan earnings increase despite drag from mortgage lending

    Earnings down slightly from Q1 but still up from 2017
    In the second quarter of 2018, JPMorgan Chase saw a decrease in its earnings from the previous quarter, but still managed to increase from the previous year despite a drag from its mortgage banking sector. JPMorgan Chairman and CEO Jamie Dimon says consumer and business sentiment led to good economic growth.
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  • JPMorgan Chase to invest $20 billion in new branches, new hires

    Bank to raise wages for second time in two years
    Today, JPMorgan Chase announced it is investing $20 billion over five years to help its employees and support job and local economic growth in the U.S. The long-term investment aimed at increasing and accelerating the company’s current growth comes on the heels of the Trump administration’s recently enacted Tax Cuts and Jobs Act.
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  • JPMorgan Chase officially reaches $53 million settlement for lending discrimination

    Wholesale lending brokers accused of charging higher rates to minorities
    Confirming reports that began to emerge last week, JPMorgan Chase officially reached a settlement with the Department of Justice over allegations that the bank’s brokers charged higher interest rates to minority borrowers than white borrowers in the run-up and during the financial crisis. Initial reports pegged the settlement amount at $55 million, but the actual settlement amount is slightly lower, checking in at $53 million.
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