April 13 at 6:18 a.m.
Filed under:
Banking,
Earnings
By CNN
Customers use Chase Bank ATMs on March 17, 2011 in Chicago. (Scott Olson/Getty Images)
JPMorgan Chase & Co.’s first-quarter profit jumped 67 percent as it set aside less for potential loan losses and revenue fell less than expected.
The first big bank reporting results this quarter, JPMorgan has seen earnings surge in recent quarters, largely because improving asset quality has led it to set aside less to cover loan losses. It has said loans are growing, and in the fourth quarter saw revenue climb from year-earlier levels at operations tied to both Wall Street and Main Street. Get the full story »
March 31 at 6:01 a.m.
Filed under:
Housing,
Mortgages,
Real estate
By CNN
JPMorgan CEO Jamie Dimon, right, at a conference on global capital markets competitivene in Washington, D.C (Andrew Harrer/Bloomberg)
The head of JPMorgan Chase said Wednesday that banks would not consider writing down mortgages for homeowners who can’t make payments, an idea at the center of talks aimed at fixing the mortgage mess.
“Principal writedown for people who couldn’t pay their mortgages? Yeah, that’s off the table,“ JPMorgan Chase CEO Jamie Dimon said when asked about the idea after an appearance before a U.S. Chamber of Commerce forum in Washington. Get the full story »
