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Jp Morgan Chase

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finance2 years ago

Jamie Dimon Raises Concerns Over Texas' Anti-Business Laws and Fed's Interest Rate Hikes

JP Morgan Chase CEO Jamie Dimon discussed various topics in a 25-minute interview, including his retirement plans, the housing market, the lagged impact of the Federal Reserve's quantitative tightening, and geopolitical risks. Dimon emphasized the need for caution in the housing market due to rising mortgage rates and limited housing supply. He also warned that the lagged impact of the Fed's actions could potentially rattle the markets. Dimon expressed concerns about geopolitical tensions and urged leaders to address them for the sake of global stability. Overall, Dimon's insights provided valuable perspective for investors.

via Yahoo Finance|
#federal-reserve#finance#geopolitical-risks
business2 years ago

"Founder of student aid startup Frank reacts to prosecutor's case against her"

The founder of student aid startup Frank, Charlie Javice, and the company's chief growth officer, Olivier Amar, have pleaded not guilty to criminal charges alleging that they tricked J.P. Morgan Chase into paying $175 million for their business by creating a fake data set that inflated their client base. Prosecutors claim that Javice and Amar misrepresented the number of customers Frank had, which was actually around 300,000 instead of the claimed 4 million. Javice's attorney argues that communications among J.P. Morgan Chase executives will support her innocence. The next pretrial hearing is scheduled for August 15.

via The Associated Press|
#business#criminal-charges#frank
business2 years ago

First Republic Bank faces massive job cuts after JPMorgan acquisition.

About 1,000 employees of First Republic Bank are being laid off after it was seized by regulators and acquired by JP Morgan Chase. The vast majority of First Republic employees were offered jobs by JPMorgan, meaning that about 15% of the bank's employees were laid off. First Republic Bank became the second-largest bank failure in U.S. history, and regulators sold all of its deposits and most of its assets to JPMorgan Chase to restore order after three banks collapsed and threatened to undermine faith in the U.S. banking system.

via ABC News|
#banking#business#first-republic-bank
legal2 years ago

Elon Musk subpoenaed in Jeffrey Epstein lawsuit.

Elon Musk has been subpoenaed by the US Virgin Islands in a lawsuit against JP Morgan Chase for allegedly enabling Jeffrey Epstein to sex traffic women. The subpoena calls on Musk to hand over any documents showing communication between him, JP Morgan Chase, and Epstein. Musk is not accused of any wrongdoing in the case. The Virgin Islands government has accused the bank of not acting on warning signs about the alleged crimes. Musk denied suggestions that Epstein had provided him with financial advice and called him a "dumb crook."

via BBC|
#elon-musk#jeffrey-epstein#jp-morgan-chase
crime2 years ago

Frank founder Charlie Javice arrested and charged with $175M financial fraud.

Charlie Javice, former CEO of student loan startup Frank, has been arrested and charged with fraud for falsely inflating the number of customers at her company to persuade J.P. Morgan Chase to purchase it for $175 million. Javice allegedly lied directly to JPMC and fabricated data to support those lies, all in order to make over $45 million from the sale of her company. The charges carry a prison sentence of up to 30 years for each count of conspiracy to commit bank and wire fraud, bank fraud, and wire fraud, and up to 20 years for securities fraud.

via The Hill|
#arrest#ceo#crime
law2 years ago

Judge rules JPMorgan and Deutsche Bank must face lawsuits over Epstein ties.

Three lawsuits against JP Morgan Chase and Deutsche Bank, alleging that the banks knew about Jeffrey Epstein's sex trafficking and enabled him to continue his crimes, can move forward, according to a federal judge. The suits claim that the banks should be held fiscally liable for the damage to victims. The judge partially denied a motion to dismiss the lawsuits, allowing them to examine legal questions such as whether the banks knowingly benefited from participating in a sex-trafficking venture. Both banks have denied having knowledge of Epstein's alleged crimes.

via NPR|
#deutsche-bank#jeffrey-epstein#jp-morgan-chase