According to CNN, JPMorgan pocketed $21.3 billion in net income in 2012 and has assets in the trillions, so it shouldn’t take long for the bank to come up with the funds. If the billion settlement is approved, about $6 billion "will serve as compensation for investors like pension funds that suffered losses," according to the Times.
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A significant step forward for JPMorgan. The most important news of the day concerns embattled dow component JPMorgan Chase (NYSE:JPM), which on Friday struck a tentative billion settlement that would end several civil investigations into the sale of mortgage securities in the run-up to the financial crisis.
JPMorgan’s $13 Billion Settlement With the Fed Doesn’t Mean Its Woes Are Over (Correct) That will not be the last time shareholders of a financial institution will suffer from its transgressions over the course of the Great Recession. Bank of America , as with JPMorgan, is looking at significant costs due to its buying Countrywide Credit.
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A Closer Look at JPMorgan’s $13 Billion Settlement. by Jeannette Di Louie Thursday, November 21, 2013 Banks are supposed to be a financial safe haven: a place to store money and valuables. people trust their banks to secure their checking and savings accounts, handle their loans, and offer.
JP Morgan Chase has agreed to pay $13 billion to resolve a series of. The talks , in fact, almost broke down recently because J.P. Morgan said it wanted to. ZARROLI: You know, it resolves a lot of them, not all of them.
Danielle Douglas and Sari Horwitz in The Washington Post. Explainer: Everything you need to know about JPMorgan’s $13 billion settlement. Neil Irwin in The Washington Post. Why JPMorgan took the deal..
Putting JPMorgan’s $13 Billion Settlement Into Context The size of JPMorgan Chase’s $13 billion settlement is no mystery — but do you know what $13 billion is really worth? Anders Bylund
Much of the settlement will be tax deductible for JPMorgan because regulators had agreed to treat Bear Stearns and Washington Mutual-related fines in a pre-tax manner. Overall, only $2 billion of the total $13 billion settlement will hit JPMorgan’s after-tax earnings.
By now, Irving Picard, the trustee overseeing the firm’s liquidation in bankruptcy court, has recovered about 70 percent of approved claims, or $13.3 billion. “He said, Everything you need to know.