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...JPMorgan Chase chief executive Jamie Dimon had a one-on-one lunch at the White House last week with vice-president Kamala Harris, according to people familiar with the matter....
...The effort pertains to JPMorgan’s loan portfolio around products at Chase, its retail business, including mortgages, auto lending and credit card loans, these people said....
...chase the maximum profit at the expense of every other stakeholder,” he told the FT....
...But while JPMorgan had to rescue ailing institutions such as mortgage lender Washington Mutual, it could still reduce its share count since 2008 by 27 per cent....
...The largest US bank by assets, JPMorgan Chase, was able to outbid smaller suitors. To be sure, there may be instances when a sale to a mega bank will minimise both financial and social costs....
...To do this, I looked at two time-slices of Federal Deposit Insurance Corporation data, from early 2003 and late 2023, using a data collection tool from BankRegData....
...Over the past two years, big banks such as JPMorgan Chase, Bank of America, Citigroup and Wells Fargo charged more for loans in lockstep with the Fed lifting interest rates, without passing on the increase...
...Could long-term mortgages with rates fixed for a decade or more be the answer? A Big Read investigates....
...But banks led by JPMorgan Chase lobbied hard to underwrite a financing over the past four months....
...Long-term mortgages: Rising mortgage rates have been a big contributor to the UK’s cost of living crisis. Can long-term mortgages, a norm in the US, help solve the country’s housing crunch?...
...Larger banks such as JPMorgan Chase, Bank of America and Wells Fargo also saw their profits fall in the final quarter of 2023....
...Instead, both businesses reported 10 per cent increases in revenues compared with a year earlier, benefiting from trading in mortgages, currencies and credit in the quarter....
...She moved over to the consumer banking side of the company, where she ran card services and was finance chief for mortgage banking....
...Commercial property, and in particular mortgages on less-full office buildings, had been one of the biggest factors pushing up problem debts....
...“I would be forced to mortgage or sell Great Assets, perhaps at Fire Sale prices, and if and when I win the Appeal, they would be gone. Does that make sense? WITCH HUNT. ELECTION INTERFERENCE!”...
...It has diversified its investments away from equity-release mortgages to a broader range of infrastructure and real estate projects....
...It covers profits from subsidiaries with Federal Deposit Insurance Corporation-insured deposits, and includes JPMorgan’s earnings from commercial and retail banking, and parts of its investment banking and...
...Some $117bn in commercial mortgages tied to US offices will come due this year, according to data from the Mortgage Bankers Association, part of a wall of looming maturities that is contributing to expectations...
...Commercial property, and in particular mortgages on office buildings with low occupancy rates, have been a big concern for lenders since the Fed started lifting interest rates....
...For the first time since taking the helm of JPMorgan Chase in 2006, Dimon will begin unloading his $1.2bn of stock next year....
...A person familiar with the matter said JPMorgan Chase received instructions to transfer the money to the Commerzbank account of another Moscow Stock Exchange subsidiary, the National Clearing Corporation...
...Citi also has a reputation for offering favourable rates on mortgages to its law firm clients....
...The Federal Deposit Insurance Corporation on Thursday said the number of weak US banks had risen by eight to 52 in the final three months of 2023, the biggest jump since the demise of SVB....
...In the wake of three of the largest bank failures in US history a year ago, the US Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency are all pushing...
...Part of the reason for the profit drop was last year’s banking turmoil — the Federal Deposit Insurance Corporation imposed a one-time charge on many US banks in order to pay for losses, which the FDIC’s...
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