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The Federal Deposit Insurance Corporation (FDIC) may assume deposits of banks or allow other banks to assume them. The largest banks to be acquired have been the Merrill Lynch acquisition by Bank of America, the Bear Stearns and Washington Mutual acquisitions by JPMorgan Chase, and the Countrywide Financial acquisition also by Bank of America.
Lehman Brothers filed for Chapter 11 bankruptcy protection on Monday, September 15, 2008. According to Bloomberg, reports filed with the U.S. Bankruptcy Court, Southern District of New York (Manhattan) on September 16 indicated that JPMorgan Chase & Co. provided Lehman Brothers with a total of $138 billion in "Federal Reserve-backed advances ...
On March 20, 2009, WaMu filed suit against the FDIC in the United States District Court for the District of Columbia, seeking damages of approximately $13 billion (~$17.9 billion in 2023) for an alleged unjustified seizure and unfair low sale price to JPMorgan Chase. JPMorgan Chase promptly filed a counterclaim in the Federal Bankruptcy Court ...
Chase's proposed fee comes at a time when the average monthly fee for a non-interest checking account is $5.31, and $15.33 for an interest-bearing account, according to Bankrate. Lake spoke to ...
Trader Bruno Iksil, nicknamed the London Whale, accumulated outsized CDS positions in the market. An estimated trading loss of $2 billion was announced. However, the loss amounted to more than $6 billion for JPMorgan Chase. [2][3] These events gave rise to a number of investigations to examine the firm's risk management systems and internal ...
JPMorgan Chase has created a new global role overseeing all junior bankers in an effort to better manage their workload after the death of a Bank of America associate in May forced Wall Street to ...
JPMorgan Chase Chief Operating Officer Daniel Pinto went as far as to say the average analyst estimate of $90 billion in NII for full year 2025 was "not very reasonable."
JPMorgan Chase, in its current structure, is the result of the combination of several large U.S. banking companies that merged since 1996, combining Chase Manhattan Bank, J.P. Morgan & Co., and Bank One, as well as asset assumptions of Bear Stearns, Washington Mutual, and First Republic.