Showing posts with label Chase Bank. Show all posts
Showing posts with label Chase Bank. Show all posts

March 26, 2014

NY Fed Study: 'Too Big To Fail Banks' Profit on Taxpayers' Backs | Common Dreams

NY Fed Study: 'Too Big To Fail Banks' Profit on Taxpayers' Backs | Common Dreams

"Although not news to progressive critics of Wall Street, the Federal Reserve Bank of New York revealed research Tuesday that underscores why "too-big-to-fail" banks are bad for the economy.

A study focusing on the five largest banks—JPMorgan Chase, Citigroup, Bank of America, Wells Fargo and Goldman Sachs—found that these firms benefit from significant discounts on bond issues due to an assumption on the part of investors of government bailout protection."

February 22, 2014

Regulators question JPMorgan Chase on foreign exchange

Regulators question JPMorgan Chase on foreign exchange

"JPMorgan Chase Thursday disclosed that US and foreign regulators have sought documents on its foreign exchange trading business, amid an ongoing worldwide forex manipulation probe.
The disclosure came as the embattled US banking giant, which has paid out more than $20 billion over the past two years to settle various accusations of misbehavior, was hit with new charges over the Madoff Ponzi fund case.
The largest US bank by assets said in a securities filing that the investigations related to its foreign exchange operations "are in the early stages and the firm is cooperating with the relevant authorities."
Authorities in the United States, Britain, Switzerland, Hong Kong and Singapore have opened probes into whether a number of large banks manipulated foreign exchange trading."