jpmorgan chase & co (JPM) Key Developments
JPMorgan Chase to lay Off 163 Workers in Jacksonville
Jan 30 15
JPMorgan Chase will lay off 163 workers at its Jacksonville customer assistance facility. The workers, who mainly help service mortgages, are no longer needed as the market for the bank's products has changed. The layoffs will be completed by the end of March.
JPMorgan Chase Announces Retirement of Maria Quintana as Commercial Banking Executive Vice President
Jan 29 15
JPMorgan Chase announced the retirement of Maria Quintana, Commercial Banking executive vice president. Quintana will leave JPMorgan Chase at the end of the first quarter of 2015.
JPMorgan Chase & Co. Presents at The Bond Buyer's National Outlook 2015 Conference, Jan-27-2015 01:30 PM
Jan 24 15
JPMorgan Chase & Co. Presents at The Bond Buyer's National Outlook 2015 Conference, Jan-27-2015 01:30 PM. Venue: Metropolitan Club, One East 60th Street, New York, NY 10022-1054, United States. Speakers: Charles Giffin, Head of Public Finance Debt Capital Markets.
Consumer Financial Protection Bureau Fines Banks for Mortgage Kickbacks
Jan 23 15
Wells Fargo and JPMorgan Chase have been ordered to pay $35.7 million in penalties for "illegal mortgage kickbacks" as a result of the joint investigation by the Consumer Financial Protection Bureau, the state of Maryland and the Maryland Insurance Administration. In violation of the Real Estate Settlement Procedures Act, the CFPB said both banks allegedly participated in an "illegal marketing-services-kickback scheme" with Genuine Title of Maryland, which went out of business in April of last year. The CFPB said Genuine Title gave the banks' loan officers cash, marketing materials, and consumer information in exchange for business referrals.
Wells Fargo and JPMorgan Chase Settle Mortgage Kickbacks Probe
Jan 22 15
Wells Fargo and JPMorgan Chase have agreed to pay more than $35 million combined to resolve claims that loan officers at the two banks received kickbacks in exchange for steering mortgage borrowers to a Maryland title company. The Consumer Financial Protection Bureau said that JPMorgan and Wells Fargo each agreed to consent orders filed in federal court to settle the claims. Wells Fargo has agreed to pay $24 million in civil penalties and $10.8 million to consumers affected by the scheme. JPMorgan is to pay $600,000 in penalties and about $300,000 in redress. The CFPB and the Maryland attorney general found that loan officers at the banks referred borrowers to a now-defunct title company, Genuine Title, in exchange for cash and marketing services. Federal law prohibits giving anything of value in exchange for a referral of business related to a real estate settlement service. According to the CFPB, loan officers at Wells Fargo and JPMorgan sent homebuyers financing a mortgage through the banks to Genuine Title, which provided real estate closing services. In return, the title company, which went out of business last April, provided the loan officers with cash, as well as consumer information and marketing services aimed at helping them drum up more loan business, the CFPB said. The CFPB noted that more than 100 Wells Fargo loan officers in at least 18 branches, mainly in Maryland and Virginia, participated in the scheme, referring thousands of loans to Genuine Title.