Items Tagged with 'JPMorgan'

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  • JPMorgan Chase to add 90 branches this year

    Bank is looking to add as many as 700 employees
    A new report from The Wall Street Journal says that JPMorgan Chase is expecting to open 90 branches by the end of this year. The bank is looking to add as many as 700 employees and open locations in cities such as Charlotte, Minneapolis and Nashville as part of its larger plan to enter new markets.
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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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