Settlement resolves claims arising out of the sale and of residential mortgage-backed securities
U.S. banking giant reaches deal with 21 major institutional investors
CFTC settles with firm over “London Whale” trades
Bank consents to orders designed to remedy deficiencies
Fitch says financial implications of the trading loss are largely contained
Losses could “easily get worse”
CFTC finds that firm unlawfully handled Lehman Brothers’ seg funds
Source: The Associated PressThe bank used most by Bernard Madoff was “wilfully blind”and “thoroughly complicit” in the disgraced financier’s epic fraud, lawyers working for a court-appointed trustee alleged Thursday.J.P. Morgan Chase responded by accusing trustee Irving Picard of “blatantly distorting” the bank’s role.Picard is in the midst of a nearly two-year quest to recover funds […]
Asset management net income was up 11%
Firm failed to segregate billions of dollars of its clients’ money for nearly seven years