Saturday, Jul 30, 2016
One of America's Great Newspapers ~ Toledo, Ohio

Economy

JPMorgan posts loss, cites litigation costs

NEW YORK — Mounting legal costs pushed JPMorgan Chase & Co. to a rare loss in the third quarter, the first since Jamie Dimon took over as CEO in 2005.

The largest U.S. bank by assets set aside $9.2 billion in the quarter to cover a string of litigation stemming from the housing crisis and the bank’s “London Whale” trading debacle.

While JPMorgan emerged from the financial crisis and the Great Recession as one of the strongest U.S. banks, it has been dogged by legal problems in recent years.

Click to comment

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem?

Temporibus autem quibusdam et aut officiis debitis aut rerum necessitatibus saepe eveniet.

Copyright © 2015 Toledo Blade

To Top

Fetching stories…