JPMorgan Chase & Co. posted a 52 percent jump in its first-quarter profits, helped by higher interest rates, which allowed the bank to charge customers more for loans. The bank saw deposits grow noticeably, as business and customers flocked to the banking titan after the failure of Silicon Valley Bank and Signature Bank last month….
JPMorgan Chase Profits Jump 52 Percent Amid Banking Turmoil
April 14, 2023
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NTD Business (April 7): JPMorgan Discrimination Probe up for Vote; IRS Pledges More Audits of Wealthy
April 7, 2023
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Is the U.S. labor market starting to cool? The U.S. economy added 236,000 jobs in March—lower than February numbers. An economic analyst tells us that moderation is the theme of the day. The IRS releases details on how it plans to use $80 billion in new funding for improved operations. It is pledging more audits…
Former CEO of Frank Charged With Fraud Over $175 Million Deal With JPMorgan
Charlie Javice, the founder of failed student loan assistance platform Frank, has been charged with defrauding banking giant JPMorgan Chase (JPMC) out of $175 million, the Department of Justice (DOJ) announced. Javice, 31, was arrested in New Jersey on April 3 and appeared before U.S. Magistrate Judge Barbara Moses on Tuesday, according to the DOJ. Janice was released on a…
JPMorgan CEO Says Bank Crisis Not Over, America Shifting Into a ‘Vicious Cycle’
JPMorgan CEO Jamie Dimon said in a letter to shareholders that the U.S. banking crisis is not over, and that even when it does end, its impact will linger for years, while warning that America seems to moving into a “vicious cycle.” “As I write this letter, the current crisis is not yet over, and…
‘Most Vulnerable’ US Banks Lost $1 Trillion in Deposits in a Year: JPMorgan
New YORK—JPMorgan Chase & Co. analysts estimate that the “most vulnerable” U.S. banks are likely to have lost a total of about $1 trillion in deposits since last year, with half of the outflows occurring in March following the collapse of Silicon Valley Bank. The team of JPMorgan analysts led by Nikolaos Panigirtzoglou did not…
JPMorgan Chase Warns US Is ‘Past the Point of No Return’
JPMorgan Chase strategists warned Monday that recession chances have surged amid the banking crisis after the collapse of Silicon Valley Bank. “The Fed is facing a difficult task on Wednesday, but it is likely already past the point of no return,” JPMorgan’s strategists wrote in a note to clients this week, according to news outlets….
JPMorgan Beats Profit Estimates, Sees Mild Recession
JPMorgan Chase & Co., the biggest lender in the United States, said on Friday it set aside $1.4 billion in anticipation of a mild recession, even as it beat forecasts for quarterly profit on the back of a strong performance at its trading unit. Shares in JPMorgan fell about 3 percent in premarket trading as…
NTD Business (Dec. 29): Virgin Islands Sues JPMorgan for Epstein Ties; Musk: Follow and Question the Science
The U.S. Virgin Islands is suing JPMorgan. It alleges that JPMorgan did business with Jeffrey Epstein for over a decade, while fully knowing all about his sex-trafficking operations. Elon Musk Musk says healthy questioning is a part of science, and he announced a new policy at Twitter to support that. Amazon’s value shrank by 50% this year. It lost hundreds…
National Committee for Religious Freedom Claims Chase Bank Ignores Requests to Explain Account Shutdown
A nonprofit dedicated to promoting religious freedom has had its Chase Bank account shutdown, but no reason has been given why, the nonprofit’s founder and executive director have said. Sam Brownback, founder of the National Committee for Religious Freedom (NCRF) and a former governor of Kansas, U.S. Senator, and U.S. Ambassador at Large for International…
Religious Freedom Nonprofit Claims Chase Bank Ignores Requests to Explain Account Shutdown
A nonprofit dedicated to promoting religious freedom has had its Chase Bank account shutdown, but no reason has been given why, the nonprofit’s founder and executive director have said. Sam Brownback, founder of the National Committee for Religious Freedom (NCRF) and a former governor of Kansas, U.S. Senator, and U.S. Ambassador at Large for International…
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