JPMorgan Chase

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JPMorgan Sues Customers Who Exploited Viral ATM Glitch
After 'Infinite Money Glitch,'
It's Payback Time for JPMorgan
IN CASE YOU MISSED IT
Nov 3, 2024 11:00 AM CST

After 'Infinite Money Glitch,' It's Payback Time for JPMorgan

Bank sues, demanding return of $660K plus interest, lawyer fees, and damages

(Newser) - JPMorgan Chase has started suing customers who allegedly stole thousands of dollars from ATMs during the so-called "infinite money glitch" advertised on TikTok. In August, videos on TikTok and other social media sites highlighted a technical glitch that allowed customers to withdraw the value of a bad check deposited...

Biggest Bank Suggests US Has Achieved a 'Soft Landing'

JPMorgan exec uses the phrase while discussing better-than-expected quarterly results

(Newser) - The Federal Reserve has been adjusting rates and watching inflation as it attempts to pull off an elusive "soft landing" for the economy. On Friday, an exec at the nation's biggest bank said the central bank appears to have pulled it off and avoided a recession. After JPMorgan...

Major Banks Try to Ease Junior Bankers' Exhaustion

JPMorgan, Bank of America take steps to prevent overwork amid criticism

(Newser) - Two leading investment banks are taking steps to prevent junior bankers from working more than 100 hours a week following complaints of overwork. JPMorgan is instituting an 80-hour weekly cap for junior bankers in a first-of-its-kind move for the bank, while Bank of America, which already flags work beyond a...

Jamie Dimon Is on the Hunt for His Replacement

It's reportedly a top priority for the 68-year-old JPMorgan CEO

(Newser) - After 18 years as head of America's largest bank, JPMorgan Chase CEO Jamie Dimon is preparing to retire. Indeed, finding a successor is now his top priority, Reuters reports. Earlier this year, the 68-year-old indicated he would retire in fewer than five years, but Bank of America analysts predict...

Biggest Retail Bank Warns Free Checking May Go Away

Chase exec says it's a potential result of capped credit card fees

(Newser) - No more free checking accounts? An exec with JPMorgan Chase, the nation's biggest retail bank, warned the perk could go away in the not-too-distant future, reports the Wall Street Journal . Marianne Lake—the CEO of consumer and community banking who also is on the short list to eventually replace...

Dimon Issues Warning About Markets
Dimon
Issues
Warning
About Markets
Apr 12, 2024 1:45 PM CDT

Dimon Issues Warning About Markets

JPMorgan Chase boss finds markets a little 'too happy'

(Newser) - He's been wrong about this before, as when he expected a major recession for last year, but still, Jamie Dimon has unique experience and a good view of the global economy. So reporters listened Friday when the chief executive of JPMorgan Chase elaborated on why he senses trouble ahead....

Long-Cautious Jamie Dimon Has Another Economic Warning

He sees the potential for interest rates to hit 8% or more

(Newser) - Some market watchers suspect the Fed won't cut rates at all in 2024. JPMorgan Chase CEO Jamie Dimon sees the potential for things to move sharply in the other direction. In an annual letter to JPMorgan Chase shareholders released Monday, Dimon warned that while he expects the US economy...

Big Banks Warn Customers of Deposit Delays

'Manual error' said to cause 'processing issue' at Chase, Bank of America, Wells Fargo, others

(Newser) - Deposits at major banks across the nation were delayed Friday, due to what the Federal Reserve is calling a "processing issue" caused by human error. CNN Business reports that customers at Bank of America, Chase, Wells Fargo, US Bank, and Truist started complaining about the problem Friday morning, with...

JPMorgan Settles Epstein Case With $75M Payment

Virgin Islands accused the bank of turning a blind eye to his sex trafficking of girls

(Newser) - JPMorgan Chase will pay $75 million to close an ugly chapter in the banking giant's history. The payment settles a lawsuit brought by the US Virgin Islands that accused the bank of turning a blind eye to the sex trafficking of girls by Jeffrey Epstein, reports the New York ...

JPMorgan Settles With Epstein Victims for $290M

'We all now understand that Epstein's behavior was monstrous,' says bank accused of enabling him

(Newser) - JPMorgan Chase has reached a settlement in a class-action lawsuit with victims of financier Jeffrey Epstein. Sources tell the Financial Times that the banking giant has agreed to pay $290 million. Epstein was arrested in 2019 on federal charges accusing him of paying underage girls hundreds of dollars in cash...

Elon Musk to Be Subpoenaed Regarding Jeffrey Epstein

US Virgin Islands wants documents from billionaire

(Newser) - There have long been rumors that Jeffrey Epstein once advised Elon Musk , and now the US Virgin Islands is looking to subpoena the Tesla CEO as part of a lawsuit related to the alleged billionaire sex trafficker. The Virgin Islands is suing JPMorgan Chase over the bank's ties to...

It's the Second-Largest Bank Failure in US History
It's the Second-Largest Bank
Failure in US History
the rundown
May 1, 2023 6:08 AM CDT

It's the Second-Largest Bank Failure in US History

Regulators seize First Republic, sell most of it to JPMorgan Chase

(Newser) - Another midsize US bank has gone under, the third in two months. Regulators seized First Republic Bank on Monday and sold the bulk of it to the nation's largest bank, JPMorgan Chase, reports the BBC . The move, however, which was telegraphed over the weekend , is not being received as...

SEC: Buzzy Start-Up Founder Committed 'Old-School Fraud'

Charlie Javice is charged in connection with her sale of Frank to JPMorgan Chase

(Newser) - The tables have turned for Charlie Javice, who landed a spot on Forbes' 30 Under 30 list and sold her college financial planning platform, Frank, to JPMorgan Chase for $175 million. On Tuesday, the DOJ and SEC charged the 31-year-old with criminal and civil fraud charges in relation to the...

Women Who Accused Epstein Now Go After Big Banks

They allege JPMorgan, Deutsche Bank facilitated, profited from sex trafficking operations

(Newser) - JPMorgan Chase and Deutsche Bank have each been hit with a lawsuit that claims the banks enabled Jeffrey Epstein's sex trafficking operations and financially benefited from doing so. The suits, brought by anonymous female plaintiffs who accused Epstein of sex abuse, are seeking class-action status and unspecified damages. The...

JPMorgan Chase Cuts Ties With Kanye West

But the break was planned before anti-Semitic diatribes

(Newser) - Candace Owens, the controversial conservative commentator who appeared alongside Kanye West wearing a "White Lives Matter" shirt at Paris Fashion Week, on Wednesday night posted a letter from JPMorgan Chase to the rapper announcing that the bank was cutting ties with West's company, Yeezy Inc. However, as TMZ...

Jamie Dimon: US Recession Likely Within 6 to 9 Months
Jamie Dimon:
Recession
Lies Ahead
Oct 11, 2022 6:39 AM CDT

Jamie Dimon: Recession Lies Ahead

'This is serious stuff,' JPMorgan Chase CEO says, as Fed didn't do nearly enough in time

(Newser) - The US economy is "actually still doing well" right now, JPMorgan Chase CEO Jamie Dimon said Monday—but that statement comes with a big "but." Dimon, in an interview with CNBC , continued, "you can’t talk about the economy without talking about stuff in the future—...

Russian Oligarch Is Officially Out of a Superyacht

Dmitry Pumpyansky's luxury boat was the first to be auctioned, for $37.5M, over Ukraine sanctions

(Newser) - Update: The luxury superyacht seized from Russian oligarch Dmitry Pumpyansky and put up for sale in the first auction of its kind related to Russia's invasion of Ukraine ended up selling for $37.5 million in an auction that garnered 63 bids, the Guardian reports. The buyer's identity...

Bank CEO: 'Brace Yourself' for an Economic 'Hurricane'

'We don’t know if it’s a minor one or Superstorm Sandy,' Jamie Dimon says

(Newser) - The chief of America's largest bank says an economic "hurricane" is brewing and the Federal Reserve will face a huge challenge as it tries to rein in inflation without causing a recession. "Right now it's kind of sunny, things are doing fine. Everyone thinks the Fed...

Jamie Dimon Warns of Unprecedented Trifecta

Pandemic recovery, Ukraine war, and high inflation could 'dramatically increase' risks to economy

(Newser) - JPMorgan CEO Jamie Dimon is out with his annual letter to shareholders, which Axios notes is closely watched in financial circles. The Wall Street Journal finds that it's less rosy than last year, when he saw a potential "Goldilocks" moment of sustained growth on the horizon. This year,...

JP Morgan CEO Jamie Dimon Just Got a Raise

He earned $34.5M in stocks and cash in 2021

(Newser) - At an age where many people are gearing up for retirement, the 65-year-old CEO of JPMorgan Chase got 50 million reasons to stay in his post. Jamie Dimon received a $50 million bonus in early 2021 as an incentive to stay with the mega bank for a minimum of five...

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