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Switzerland investigates top banks JPMorgan Chase, Citigroup, Barclays, others for currency manipulation

Switzerland said on Monday it was investigating a range of banks, including domestic leaders UBS and Credit Suisse along with top global houses, over suspicions they manipulated currency markets. The probe covers JPMorgan Chase, Citigroup, Barclays……

British authorities investigating banker suicides for signs of foul play

British coroners are planning to launch investigations the deaths of two bankers believed to have taken their own lives. An inquest into the death of 58-year-old William Broeksmit, a retired Deutsche Bank AG risk executive, began Tuesday, and an inquest into the death of 39-year-old Gabriel Magee, vice president of…

JPMorgan Chase to pay $2.0 billion to avoid Bernard Madoff investigation: reports

JPMorgan Chase, the US bank used by Bernard Madoff who masterminded the biggest fraud on record, has agreed to pay about $2.0 billion to US authorities to avoid litigation, press reports said Monday. Madoff masterminded a massive and long-running so-called Ponzi investment fraud which came to light in 2008 as…

JPMorgan Chase will pay $4 billion fine over junk mortgages

JPMorgan Chase will pay $4 billion to settle allegations that it sold billions of dollars worth of bottom-quality mortgages to state housing finance companies, the Wall Street Journal said Friday. The Journal said JPMorgan had reached a deal to settle the charges that it overstated the quality of the mortgages…

JPMorgan Chase offers Justice Department a $3 billion settlement

JPMorgan Chase has offered to pay about $3 billion to settle an array of pending Justice Department probes, The Wall Street Journal reported Tuesday, citing a person familiar with the discussions. The Justice Department argued JPMorgan would need to pay billions above the $3 billion offer to settle the cases,…

JPMorgan to pay $920 million fine for trading violations

Banking giant JPMorgan Chase agreed Thursday to pay $920 million in fines to US and British regulators over actions involved in last year’s “London whale” trading debacle. “JPMorgan failed to keep watch over its traders as they overvalued a very complex portfolio to hide massive losses,” the US Securities and…

JPMorgan Chase pays $700 million in ‘London whale’ settlement

JPMorgan Chase will pay at least $700 million in fines as part of a settlement linked to its handling of its “London whale” trading loss, The Wall Street Journal reported. The Wall Street banking giant is expected to admit guilt as part of the settlement, the Journal said. JPMorgan’s trading…

California sues JPMorgan for allegedly harassing credit card customers

The US state of California filed suit Thursday against JPMorgan Chase, accusing the Wall Street bank of illegally abusing credit-card customers and misusing the court system to harass them with lawsuits. California Attorney General Kamala Harris filed the suit in Los Angeles Superior Court, alleging the bank “committed debt collection…

Government to review foreclosures by 14 major lenders

US officials have launched an independent review process in which individuals can challenge foreclosures carried out by 14 major lenders in the wake of the 2008 financial crisis. Independent consultants would assess if borrowers lost out financially “through errors, misrepresentations or other deficiencies in foreclosure practices,” the Office of the…

U.S. brokerage bankrupt over euro debt losses

Struggling US brokerage firm MF Global has filed for bankruptcy after confidence in the company was shattered by a string of losses from European public debt holdings. The firm filed for Chapter 11 bankruptcy protection in a Manhattan bankruptcy court on Monday, making it the first major US casualty from the European debt crisis. While MF Global…

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