A federal judge on Tuesday said JPMorgan Chase & Co must face a class action lawsuit by investors who claimed the largest U.S. bank misled them about the safety of $10 billion of mortgage-backed securities it sold before the financial crisis.
The U.S. Federal Bureau of Investigation said it is investigating media reports that several U.S. financial firms have been victims of recent cyber attacks.
Fraudsters are targeting JPMorgan Chase & Cocustomers in an email "phishing" campaign that is unusual because it attempts to collect credentials for that bank and also infect PCs with a virus that steals passwords from other institutions.
Bloomberg noted that the $95,000 fine imposed by Financial Industry Regulatory Authority on JPMorgan Chase & Co for the latter's failure to report trades properly on the Trace price-tracking system is three minutes of the bank's annual profit.
Coroner Mary Hassell ruled today in the inquest examining the circumstances of JPMorgan Chase & Co vice president Gabriel Magee's death that the bank worker appeared to have killed himself, clearing suspicions of foul play.
The European Commission has filed complaints against JPMorgan Chase & Co, HSBC Holdings Plc and Credit Agricole SA for being in a cartel involving the manipulation of interbank lending rates in Europe, Bloomberg reported.
A lawyer for mortgage fraud whistleblower Lynn Szymoniak said it was odd why the US government decided to not pursue the second mortgage fraud case his client has brought up against several lenders considering that the US government's campaign to seek out banks who peddled mortgage-backed securities is still ongoing.
Former and current employees of JPMorgan Chase & Co, who claimed that they incurred substantial losses due to the "London Whale" trades, are not allowed by a court judge to move their case forward against their employer.
Sigma Alpha Epsilon national president Bradley Cohen expressed his concerns about the fraternity's presence in universities when JPMorgan Chase & Co decided to stop providing services to the organization's charitable foundation due to its bad reputation.
US Bankruptcy Judge Stuart Bernstein approved JPMorgan Chase & Co's to pay $325 million to Bernard Madoff lawsuit trustee Irving Picard and another $218 million to settle two other cases that Picard helped file, Bloomberg said in a report.
