Key Developments: JPMorgan Chase & Co (JPM.N)

JPM.N on New York Stock Exchange

59.01USD
25 Jul 2014
Price Change (% chg)

$-0.16 (-0.27%)
Prev Close
$59.17
Open
$58.96
Day's High
$59.26
Day's Low
$58.85
Volume
2,979,608
Avg. Vol
3,077,338
52-wk High
$61.48
52-wk Low
$50.06

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Latest Key Developments (Source: Significant Developments)

JPMorgan Chase & Co issues preferred stock
Thursday, 23 Jan 2014 12:30am EST 

JPMorgan Chase & Co:Says issued 200,000 shares (the Shares) of its Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series S, with par value of $1.00 per share and a liquidation preference of $10,000 per share.Says the Shares were deposited against delivery of depositary receipts evidencing 2,000,000 depositary shares.  Full Article

JPMorgan Chase & Co declares preferred stock dividend
Wednesday, 15 Jan 2014 11:00am EST 

JPMorgan Chase & Co:Says it has declared a quarterly dividend on the outstanding shares of the following preferred stock issues.5.50% Non-Cumulative Preferred Stock, Series O - $137.50 per share (equivalent to $0.34375 per related Depositary Share).Says 5.45% Non-Cumulative Preferred Stock, Series P - $136.25 per share (equivalent to $0.340625 per related Depositary Share).  Full Article

JPMorgan Chase & Co plans to exit prepaid card business - Reuters
Thursday, 9 Jan 2014 11:20am EST 

JPMorgan Chase & Co:Says it plans to sell or wind down its business of issuing prepaid cards for corporate payrolls and government tax refunds and benefits - Reuters.  Full Article

JPMorgan Chase & Co to pay $1.7 bln to settle Madoff case - Reuters
Tuesday, 7 Jan 2014 09:33am EST 

JPMorgan Chase & Co:JPMorgan Chase & Co will pay $1.7 billion to settle U.S. charges it violated laws requiring banks to monitor customer activity for money laundering in its handling of accounts of convicted Ponzi-schemer Bernard Madoff - Reuters.The deal includes a two-year deferred prosecution agreement and settles outstanding probes by two bank regulators into failures in JPMorgan's anti-money laundering policies.  Full Article

JPMorgan Chase & Co declares preferred stock dividend
Friday, 13 Dec 2013 11:00am EST 

JPMorgan Chase & Co:Says it has declared a dividend on the outstanding shares of the corporation’s Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series R in the amount of $303.3333333 per share (which is equivalent to $30.3333333 per related Depositary Share).Says the dividend is payable Feb 1, 2014 to stockholders of record at the close of business on Jan 2, 2014.  Full Article

JPMorgan Chase & Co declares common stock dividend
Tuesday, 10 Dec 2013 12:43pm EST 

JPMorgan Chase & Co:Declares a quarterly dividend of $0.38 per share on the outstanding shares of the corporation`s common stock.Says dividend is payable on Jan. 31, 2014, to stockholders of record at the close of business on Jan. 6, 2014.  Full Article

JPMorgan Chase & Co settles Japanese Yen Libor matter with the European Commission
Wednesday, 4 Dec 2013 09:30pm EST 

JPMorgan Chase & Co:Says reached a 79,897,000 euro settlement with the European Commission regarding the conduct of two former traders during a one-month period in early 2007 related to Yen London Inter Bank Offered Rate (LIBOR) rates.Says the settlement makes no finding that JPMorgan Chase management had any knowledge or involvement in the conduct at issue, or that the traders' actions had any impact on the firm's LIBOR submissions or the published LIBOR rates.Says European Commission announced on Dec. 5 that it intends to continue its investigation of JPMorgan Chase in connection with euro-interest-rate derivatives referenced to the Euro Interbank Offered Rate (EURIBOR) benchmark rate.Says the company has cooperated with the European Commission throughout its investigation.  Full Article

Group of banks including JPMorgan Chase & Co fined 1.7 billion euros for benchmark rigging-Reuters
Tuesday, 3 Dec 2013 07:00pm EST 

JPMorgan Chase & Co:Is part of a group of European and American banks fined 1.7 billion euros ($2.3 billion) by the European Commission-Reuters.The fine is for the rigging of interest rate benchmarks.The benchmarks involved are the London interbank offered rate Libor, the Tokyo interbank offered rate and the euro area equivalents.The Commission fined JPMorgan Chase & Co 80 million euros for one infringement regarding Yen Libor.The Commission has opened proceedings against JPMorgan Chase & Co regarding EURIBOR, but a settlement has not been reached.The other banks involved include Citigroup, Deutsche Bank, Royal Bank of Scotland, Societe Generale and Barclays.  Full Article

JPMorgan Chase & Co received $11 mln fees for advising Co-op on Britannia - Reuters
Tuesday, 3 Dec 2013 07:06am EST 

JPMorgan Chase & Co:Says it has received 7 million pounds ($11 million) in fees for advising the Co-operative Bank on its takeover of the Britannia Building Society - Reuters.Says 5 million pounds of the fees were contingent on the deal going through, Tim Wise, managing director of UK investment banking at JP Morgan told Britain's Treasury Select Committee (TSC).  Full Article

JPMorgan Chase & Co. Reaches Settlement with President’s Task Force on Residential Mortgage-Backed Securities
Wednesday, 20 Nov 2013 02:00am EST 

JPMorgan Chase & Co. (JPMorgan Chase) announced that it has reached a USD 13 billion settlement in principle negotiated by the President’s RMBS Working Group of the Financial Fraud Enforcement Task Force. The settlement resolves actual and potential civil claims by the Department of Justice, several State Attorneys General, the Federal Deposit Insurance Corporation, the National Credit Union Administration (NCUA) and the Federal Housing Finance Agency relating to residential mortgage-backed securities (RMBS) activities by JPMorgan Chase, Bear Stearns and Washington Mutual. Under the settlement, JPMorgan Chase will pay a total of USD 9 billion in cash and provide USD 4 billion in borrower relief. The cash portion consists of a USD 2 billion civil monetary penalty and USD 7 billion in compensatory payments, including a previously announced USD 4 billion payment to resolve FHFA’s litigation claims. Borrower relief will be in the form of principal reduction, forbearance and other direct benefits from various relief programs. JPMorgan Chase has committed to complete delivery of the promised relief to borrowers before the end of 2017. JPMorgan Chase is fully reserved for this settlement. The settlement concludes and terminates all pending civil enforcement investigations, including those by the Department of Justice and the State AGs from California, Delaware, Illinois, Massachusetts and New York, relating to RMBS activities by JPMorgan Chase, Bear Stearns and Washington Mutual.  Full Article

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Credit Suisse posts big loss after U.S. tax settlement

ZURICH - Credit Suisse Group AG will quit commodities trading after chalking up its biggest loss since the financial crisis in 2008, the result of a 1.6 billion Swiss franc ($1.78 billion) fine from U.S. authorities for helping its clients evade taxes. | Video

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