Two of the largest banks in the US are declaring a loss on a staggering $3.5 billion in debts that customers can’t pay back. JPMorgan Chase says its net charge-offs, which are delinquent debts that banks do not expect to receive, hit $2.2 billion in the second quarter of the year. That’s a $200 million […]
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Global investment bank JPMorgan has predicted a crypto market recovery beginning in August. The firm revised its year-to-date crypto net flow estimate from $12 billion to $8 billion, citing bitcoin liquidations by Mt. Gox creditors and the German government’s seized asset sales as contributing factors. JPMorgan’s analysts believe this revised net flow will stabilize the […]
JPMorgan Chase, Bank of America and Wells Fargo have reportedly agreed to testify at a US Senate hearing over hundreds of millions of dollars in fraud on the payments network Zelle. Executives involved in the banks’ payment operations are expected to appear on July 23rd, reports Politico, citing sources who were allowed to speak anonymously […]
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Nine of the largest banks in the world are settling a long-running lawsuit that accuses them of conspiring to rig a $465.9 trillion market. Lawyers representing investors have filed for preliminary approval of a $46 million cash settlement against JPMorgan Chase, Bank of America, Goldman Sachs, BNP Paribas, Citigroup, Deutsche Bank, Morgan Stanley, NatWest and […]
The post JPMorgan Chase, Bank of America and 7 Mega Banks Paying $46,000,000 Over Alleged Conspiracy To Rig Trillion-Dollar Derivatives Market appeared first on The Daily Hodl.
JPMorgan Chase just issued a major warning to its 86 million customers. The banking giant says a list of new regulations moving through Washington, D.C. will force the company to begin charging customers for checking accounts, reports the Wall Street Journal. The bank cites proposed regulations from the Consumer Financial Protection Bureau and the Federal […]
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JPMorgan Chase just issued a warning on the economic impact of the presidential election. In a new interview with Bloomberg, JPMorgan’s Chief Global Strategist David Kelly targets former President Trump’s interest in increasing tariffs on imports to reduce income taxes. If Trump triumphs over Biden and hikes tariffs significantly, Kelly says the former president will have […]
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An alleged $92 million money laundering scheme went “right through” three of the largest banks in the US, according to a new report. A group of alleged drug runners and money launderers are accused of depositing hundreds of thousands of dollars in illicit funds into accounts at JPMorgan Chase, Bank of America and Wells Fargo, […]
The post JPMorgan Chase, Bank of America and Wells Fargo Accounts Used in Alleged $92,000,000 Money Laundering Scheme: Report appeared first on The Daily Hodl.
A JPMorgan Chase customer is filing a lawsuit after the banking giant refused to reimburse thousands of dollars drained from her account by a bad actor. Real estate attorney Ebony Lucas says she recently discovered her highly active business account has been hit with $30,000 in fraudulent transactions, reports CBS News Chicago. Some of the […]
The post $30,000 Drained From JPMorgan Chase Account As Criminal Buys Car, Pays Girlfriend’s Bills, and Bank Refuses To Reimburse: Report appeared first on The Daily Hodl.
A year after three of the largest bank failures in US history, the Federal Reserve says America’s banking giants have enough capital to survive a “highly stressful scenario.” In its yearly stress test, the Fed says 31 of the nation’s largest banks survived a simulation slamming the lenders with about $685 billion in credit card, […]
The post Big Banks Would Survive $685,000,000,000 Financial Disaster Despite Lenders’ Riskier Balance Sheets: Federal Reserve appeared first on The Daily Hodl.
Global investment bank JPMorgan has observed a notable surge in investor interest in bitcoin miners after Core Scientific announced it would host 200 MW of GPUs for AI hyperscaler Coreweave. According to JPMorgan, the combined market capitalization of 14 tracked miners has increased by $4 billion since the announcement. This rise occurred even as bitcoin […]