Dimon to Appear Before Senate Panel June 13
JPMorgan Chase and Co Chief Executive Officer Jamie Dimon will testify before the U.S. Senate Banking Committee on June 13 to discuss the bank's recent trading losses, the committee said on Thursday.
U.S. Bank Industry Posts Highest Earnings Since 2007
The U.S. banking industry for the first quarter reported its highest quarterly earnings since the first half of 2007, but there remain signs that the industry is having trouble fully recovering from the financial crisis, according to data released on Thursday by the Federal Deposit Insurance Corp.
The Tao of Dimon: JPMorgan Chase CEO Jamie Dimon's Most Memorable Quotes
Jamie Dimon is one of the most successful, well-known and outspoken bank executives around. The JPMorgan Chase and former Bank One CEO is known not only for his executive prowess, but also his colorful quotes. Whether the subject is regulation, mortgages, the role of government in the financial system or any number of other topics, Dimon has provided financial reporters with many colorful quotes throughout the years. Here are some of his most memorable.
SEC Looking at JPMorgan Financial Reporting
The U.S. Securities and
Exchange Commission will look into the "appropriateness and
completeness" of JPMorgan Chase & Co's financial
reporting, SE C Chairman Mary Schapiro told the Senate Banking
Committee on Tuesday.
JPMorgan Suspends Buybacks While Reducing Bad Trades
JPMorgan Chase & Co Chief Executive Officer Jamie Dimon said on Monday that the bank had suspended repurchases of its stock, but is maintaining its dividend, while working down losing trades in credit derivatives.
Banks' Rising Bad Loans Add to Spanish Troubles
Spanish bank bad loans rose in March to their highest in 18 years, figures from the Bank of Spain showed on Friday, underscoring the problems facing the government as it attempts to clean up the sector and get its economy back on track.
U.S. Senate Banking Committee to Ask Dimon to Testify
JPMorgan Chase & Co Chief Executive Jamie Dimon will be invited to testify before Congress over the recent trading losses announced by the bank, U.S. Senate Banking Committee Chairman Tim Johnson said in a statement on Thursday.
Fitch Says Top 29 Banks May Need $556 Billion
The world's top 29 banks may need a total $556 billion to meet tougher new capital rules, cutting returns by a fifth and forcing them to curb investor payouts and raise customer charges, Fitch Ratings said on Thursday.
Shareholders Sue JPMorgan Chase Over Trading Loss
JPMorgan Chase & Co was the target of two separate lawsuits by shareholders on Wednesday, accusing the bank and its management of excessive risk that led to trading losses of at least $2 billion.
Banks Prepare For the Return of the Drachma
Banks are quietly readying
themselves to start trading a new Greek currency. Some banks
never erased the drachma from their systems after Greece adopted
the euro more than a decade ago and would be ready at the flick
of a switch if its debt problems forced it to bring back
national banknotes and coins.
Spain Takes Over Bankia to Combat Crisis
Spain took over Bankia, the
country's fourth biggest lender, on Wednesday, trying to dispel
concerns over the government's ability to clean up the financial
sector four years after the banks were hit by a property market
Bernanke: U.S. Banking System Healthier After Crisis
Federal Reserve Chairman Ben
Bernanke said on Thursday the U.S. banking system has made
substantial progress toward becoming healthier since the
financial crisis but noted there still were problem lending
Italian, German Central Bankers at Odds on ECB Role
A senior Bank
of Italy official called on Wednesday for the European Central
Bank to be more active in fighting the euro zone crisis, a rare
push by one of the bloc's central bankers that quickly ran into
resistance from Germany's Bundesbank.
Protesters Voice Anger Outside BofA Annual Meeting
Hundreds of demonstrators
marched outside Bank of America Corp's annual
shareholder meeting on Wednesday to voice anger over a range of
issues from foreclosures to corporate taxes to financing for the
Spain Hopes For Fourth Time Lucky With Bank Reform
Spain has owned up to the extent
of its banking problem with a $10 billion euro rescue plan for
Bankia SA, the country's fourth-biggest lender that is
saddled with a huge toxic property portfolio, but investors want
more details to be convinced that the financial system is
Settlement With HP Isn't Going to Happen: Oracle
An Oracle Corp
attorney ruled out a settlement with Hewlett-Packard Co
in a bitter lawsuit over the Itanium microprocessor, a day after
the judge refused to resolve the case for either side before
More Must be Done on Shadow Banking : Fed
U.S. regulators should take
steps soon to strengthen government oversight of money market
funds and short-term bank funding markets so that the "shadow"
banking system can be better policed, a top Federal Reserve
official said on Wednesday.
Greek Bank Sues Reuters Over Investigative Report
One of Greece's biggest banks has
filed a lawsuit against Reuters claiming 50 million euros ($66
million) in damages over a story that exposed a series of
property deals between the bank and companies run by the family
of its executive chairman.