Company Overview of JPMorgan Chase Bank, National Association
JPMorgan Chase Bank, National Association provides a range of banking and other financial services to the corporate, institutional, and governmental clients in the United States and internationally. It offers noninterest-bearing deposits; and interest-bearing deposits, such as savings accounts, demand deposits, and time deposits. The company also provides consumer loans, such as residential mortgages, home equity loans and lines of credit, auto loans, business banking loans, and student and other loans; and home equity loans secured by junior liens, prime mortgage loans, and payment option loans. In addition, it offers credit card loans; and wholesale loans to various customers, such as corp...
1111 Polaris Parkway
Columbus, OH 43240
Key Executives for JPMorgan Chase Bank, National Association
Chairman of JPMorgan Chase & Co and Chief Executive Officer of JPMorgan Chase & Co
Market Manager of Commercial Banking, President of West Ohio and President of Chase In Dayton
President for Western Pennsylvania Market
Compensation as of Fiscal Year 2014.
JPMorgan Chase Bank, National Association Key Developments
JPMorgan Chase Bank, National Association Announces Unaudited Consolidated Earnings Results for Year Ended December 31, 2014
Mar 30 15
JPMorgan Chase Bank, National Association announced unaudited consolidated earnings results for year ended December 31, 2014. For the year, the company reported total net revenue of $71,651 million, income before income tax expense of $20,241 million, net income of $14,778 million, net cash provided by operating activities of $34,292 million compared to the total net revenue of $71,650 million, income before income tax expense of $22,672 million, net income of $15,438 million, net cash provided by operating activities of $91,604 million for the same period a year ago.
JP Morgan Chase N.A Resigns as the Banker of QCM Otus Fund SPC Ltd and Otus Trading SPC Ltd
Dec 8 14
With effect from the December 5, 2014, JP Morgan Chase N. A resigned as the banker of QCM Otus Fund SPC Ltd. and Otus Trading SPC Ltd.
Office of the Comptroller of the Currency Fines Bank of America, N.A., Citibank, N.A. and JPMorgan Chase Bank, N.A. $950 Million for FX Trading Improprieties
Nov 12 14
The Office of the Comptroller of the Currency assessed $950 million in fines against three national banks for unsafe or unsound practices related to their foreign exchange trading businesses. The fines against Bank of America, N.A.; Citibank, N.A.; and JPMorgan Chase Bank, N.A., follow multiagency examinations and investigations of the banks' activities in the global FX market, which has an average daily volume of more than $5 trillion dollars. The OCC's examinations found the banks failed to identify or prevent employee misconduct related to FX sales and trading. The OCC found that between 2008 and 2013, some of the banks' traders held discussions in online chat rooms about coordinating FX trading strategies to manipulate exchange rates to benefit traders or the bank. In addition, the traders disclosed confidential bank information, including customer orders and rate spreads. The OCC's examinations also found that traders discussed activity to trigger trading actions potentially detrimental to customers and beneficial to the trader or bank, and discussed pending orders and agreed not to trade in particular currencies. The OCC's examinations found that the banks had deficiencies in their internal controls and had engaged in unsafe or unsound banking practices with respect to the oversight and governance of FX trading, resulting in the banks' failure to identify the risks related to sales, trading, and supervision of employee conduct in FX trading. As a result of these control deficiencies and unsafe or unsound practices, the employee misconduct went undetected for several years. The $950 million total includes $250 million assessed against Bank of America, $350 million against Citibank, and $350 million against JPMorgan Chase Bank. In addition to assessing civil money penalties, the OCC issued cease and desist orders requiring the banks to correct deficiencies and enhance oversight of their FX trading activity. Concurrent with the OCC's enforcement action, the U.S. Commodity Futures Trading Commission and the U.K. Financial Conduct Authority took actions against some of these financial institutions for improprieties related to their FX trading activities.
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