JPMorgan Hit With $80M Fine Over Illegal Credit Card Practices
Together with the $920 million JPMorgan Chase agreed to pay over the London Whale case, Thursday was an expensive day for the megabank.
JPMorgan to Pay $920 Million Penalty for London Whale Losses
JPMorgan Chase has agreed to pay $920 million to settle charges brought in a coordinated global settlement.
White Sworn In as SEC Chief; Walter, Paredes Likely Leaving SEC Soon
Interim Chairwoman Elisse Walter will remain at the agency as a commissioner, but it doesn't look like she'll be there for long, David Tittsworth of IAA said.
Ex-SEC Chief Schapiro Joins Compliance Firm Promontory
Schapiro joins several other former regulators at the strategy and compliance consultancy, which counts many large banks as its clients.
Top Regulators to Testify on Dodd-Frank Progress
The nation’s top financial regulators will testify before the Senate Banking Committee on Thursday regarding the progress of the Dodd-Frank Act.
Goldman, Morgan Stanley Settle Mortgage Complaints for $557 Million
Goldman Sachs and Morgan Stanley will pay a combined $557 million to settle federal complaints that they wrongfully foreclosed on homeowners who should have been allowed to stay in their homes.
Homeowners Sue on LIBOR Manipulation
The class action alleges that traders at the 12 banks were incentivized to manipulate LIBOR to a higher rate on certain dates, resulting in homeowners having to pay more.
CFPB Orders Amex Units to Repay $85M on Illegal Practices
The CFPB says the companies violated consumer protection laws “at every stage” that ranged from marketing practices to enrollment, payment and debt collection.
AIG Stock Sale Could Trigger Federal Regulation
American International Group is on the verge of becoming the first insurance holding company ever regulated by the federal government.
New Hire Roundup: TD Ameritrade Institutional Adds Dario
Also this week in new hires, Joseph Nader joined Wescott Financial Advisory Group; Will Proctor went to a new spot at Neuberger Berman; and more.