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Chase Increases Profit by 76%
Posted on July 15th, 2010 No commentsJPMorgan Chase & Co. told investors it set aside $3.36 billion to cover loan-loss reserves, down from $8 billion a year ago, which helped the bank report a 76 percent increase in second-quarter profit, according to the Business Journal of Milwaukee. -
Chase Lowers Rate for Businesses That Hire
Posted on June 30th, 2010 No commentsJPMorgan Chase & Co. is lowering the interest rates for small businesses by 0.5 percent on a new business line of credit for each new employee hired, up to three, for the life of the loan, the company said in a news release. Read more in The Business Journal of Milwaukee. -
Chase Rolls Out New Mobile Banking Features
Posted on May 21st, 2010 No commentsJPMorgan Chase & Co. has rolled out two free mobile banking features to help customers manage their accounts. Customers can receive a low-balance alert via text message and transfer funds by sending a text-message reply, the Business Journal of Milwaukee reported.
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JP Morgan Chase Reports Earnings Jump
Posted on April 14th, 2010 No commentsGains in its investment banking operations helped JPMorgan Chase & Co., the bank with the third-largest deposit market share in the Milwaukee area, to a double-digit earnings jump for its first quarter, beating expectations, according to the Business Journal of Milwaukee.
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Lenders May Lose Billions on Fannie, Freddie
Posted on March 5th, 2010 No commentsLenders including Wells Fargo & Co., Bank of America Corp., Citigroup Inc. and JPMorgan Chase & Co. may be forced to buy back $21 billion in faulty loans from Fannie Mae and Freddie Mac. “The agencies, which have suffered $200 billion in losses since 2007, have been cracking down on boom-era loans issues that may have been issued based on falsely stated incomes or inflated appraisals,” the Business Journal reported.
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Wells Fargo Touts Confidence in Customers
Posted on January 20th, 2010 No commentsBreaking from the cautious, even downbeat forecasts of rivals like JPMorgan Chase & Co., Wells Fargo used words like “favorable” and “confidence” about its future amid tentative signs that its loan defaults are close to a peak or already have peaked. But banking analysts say that ongoing problems could still hold back recovery, according to the Milwaukee Journal Sentinel.
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Chase CEO: No Bank is Too Big To Fail
Posted on November 13th, 2009 No commentsMajor banks shouldnt be considered too big to fail regulators should have the power to close even the largest institutions, says JPMorgan Chase & Co. CEO Jamie Dimon. Read the Business Journal article.
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Chase Hiring, Increasing Business Lending by $4B
Posted on November 11th, 2009 No commentsJPMorgan Chase announced plans to hire 1,200 mortgage loan officers by the end of 2010 to help customers finance home purchases or reduce their monthly payments through refinances, the Business Journal of Milwaukee reported.
In a separate article, JP Morgan Chase announced it will increase business lending by $4 billion, raising the banks total new lending to $10 billion.