With a reported $13 billion settlement, JPMorgan has put the rest of the banking industry at risk of further government attacks, and it has raised the bar for potential fines from the big banks.
By Cyrus Sanati
FORTUNE -- JPMorgan's reported $13 billion settlement with U.S. authorities over shady investment practices sets a precedent that could have ghastly consequences for the bank, as well as for its main rivals. In rolling MOREOct 21, 2013 10:22 AM ET
During a quarter in which rival Goldman struggled, Morgan Stanley CEO James Gorman made progress on a turnaround strategy.
FORTUNE -- James Gorman's Morgan Stanley makeover is finally showing results.
Despite a tough three months for Wall Street traders, Morgan Stanley's profits and revenue, driven by growth in its wealth management division, beat expectations for the third quarter. The bank earned $906 million, up from a loss of just over $1 billion MOREStephen Gandel, senior editor - Oct 18, 2013 10:57 AM ET
Accounting moves boosted bottom lines at the biggest banks this quarter. How long can this last?
FORTUNE -- Even as Washington is adding doubts to the recovery, investors have taken comfort in bank earnings. Perhaps they shouldn't be.
On Wednesday, Bank of America (BAC) said it netted $2.5 billion in the third quarter, up from basically breaking even a year ago. Shares rose, as they have at the other banks, even before MOREStephen Gandel, senior editor - Oct 17, 2013 10:36 AM ET
Erdoes and other fund managers sound off on how to manage money in the shadow of a debt crisis.
By Anne VanderMey, reporter
FORTUNE -- With a last-minute debt deal winding its way through the legislature, the worst of the uncertainty that has roiled global markets in recent weeks may be past. But the upheaval has already undermined confidence in the U.S., even as the economy shows signs of life. Under MOREOct 16, 2013 2:59 PM ET
Whoever said Wall Street creates economic waste was right.
FORTUNE -- JPMorgan Chase said that it expensed $9.2 billion for legal costs in the third quarter, or over $3 billion a month. Law firms and regulators might delight in that number. The rest of us should despair. Here are six things JPMorgan could have bought with the money it put aside for legal fees and fines in the past three months MOREStephen Gandel, senior editor - Oct 11, 2013 11:13 AM ET
If you think the JPMorgan and Wells Fargo earnings reports were disappointing, just wait until the fourth quarter if the shutdown continues and a debt default occurs.
By Cyrus Sanati
FORTUNE -- JPMorgan and Wells Fargo kicked off bank earnings season Friday morning reporting some less-than-stellar results. Weak loan volumes, shrinking net interest margins, legal mishaps, lackluster trading activity, and a lousy mortgage market wreaked havoc on the megabanks during the MOREOct 11, 2013 10:14 AM ET
Unlike today's problems, tomorrow's headaches can't be cured by writing a few checks.
FORTUNE -- People tend to spend way too much time worrying about what's in the headlines and not enough time worrying about things, buried in small type, that are less obvious but lots more important. Today's case in point: J.P. Morgan Chase.
JPM (JPM), as we'll call it, has been playing the role of piñata for plaintiffs and regulators MOREAllan Sloan, senior editor-at-large - Oct 9, 2013 5:00 AM ET
Why haven't JPMorgan's legal issues done more to dent the stock?
FORTUNE -- Call him the Teflon Dimon.
On Thursday, the day after news broke that JPMorgan Chase may have to pay the government at least $11 billion in fines -- the largest single financial fine in history -- its shares rose. Perhaps one of the biggest oddities of JPMorgan's past year and a half is how the stock has done. Despite MOREStephen Gandel, senior editor - Sep 27, 2013 11:08 AM ET
The bank said it did something wrong, but it's not saying what.
FORTUNE -- The Securities and Exchange Commission is taking a victory lap over Thursday's JPMorgan Chase London Whale settlement. And it's got a cheering section, something that has been relatively unusual for regulators in the wake of the financial crisis. The Wall Street Journal calls the settlement "historic," and the Huffington Post says the settlement "amounts to a relatively stirring MOREStephen Gandel, senior editor - Sep 20, 2013 9:12 AM ET
Only the rich will see much benefit from looser lending standards for mortgages.
FORTUNE -- After years of tighter lending standards, U.S. lenders are turning on the credit spigot again. This comes as banks try to compete harder for customers, given that the spike in borrowing costs has quickly shrunken the lucrative market for home refinancing.
JPMorgan Chase (JPM), the nation's largest bank, is relaxing mortgage-lending standards in housing markets hard hit MORENin-Hai Tseng, Writer - Sep 13, 2013 11:48 AM ET
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