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A year after the Federal Reserve enacted new rules to rein in abusive bank overdraft practices, fees remain high and some institutions actually have slapped on additional penalties, according to a new survey by the Consumer Federation of America.
JPMorgan Chase reported a second-quarter profit of $5.4 billion, or $1.27 per share this morning, up from $4.8 billion, or $1.09 per share a year ago. Digging into the earnings supplemental, we can see how -- as in previous quarters -- JPMorgan's investment bank carried the company's overall results.
The average person may find it hard to imagine what big company CEOs do to justify their massive pay packages. Shareholders often ask a similar question: Why pay executives so much when the returns they produce are often so modest? But that's a question that doesn't apply to JPMorgan Chase CEO Jamie Dimon.
Citigroup is the most-shorted stock on any major U.S. exchange. Its position at the top of the pack is due to the bank's stock price and ongoing concern about its balance sheets and mortgage foreclosure practices.

After a rough opening session on Monday, stocks rebounded sharply on Tuesday. The Dow enjoyed a triple-digit gain after oil prices eased and bank shares bounced higher on the possibility of further dividend payouts and share buybacks.
Recent market sell-offs may have been more about paranoia than about real risk. JPMorgan calculations indicate that the potential impact of rising oil prices on the economy may be less than most investors think. But the fear factor itself also can't be overlooked.
HSBC got plenty of attention when it disclosed that it had suspended foreclosures in its annual report Monday. But its not the only bank whose annual report made for interesting reading. The risk disclosures in banks' annual reports shed some light on their attitudes toward the mortgage mess.
A little late to the social media party, JPMorgan plans to invest $450 million in Twitter to buy a 10% stake of the social media company.
JPMorgan Chase may come to regret buying Bear Stearns. Suits by Wells Fargo and bond insurer Ambac claim that Bear entirely disregarded loan quality to appease its trading desk's ever-growing demand for mortgages to securitize. Now, those parties are suing to get their money back, and they might get it.
As much as the market and Corporate America may like what they heard in the president's speech Tuesday night, history shows Obama's reelection in 2012 remains pinned to boosting Americans' income growth to at least 3%. Problem is, right now it's running at just 1.4%.

Market Movers

SymbolLastChange / %Volume

Most Actives

BAC
Bank of America Corp
8.05-0.13
-1.59%
55.20M
ALU
Alcatel-Lucent (ADR)
2.23+0.29
+14.69%
39.51M
PBR-A
Petroleo Brasileiro S.A. A Shares
27.54-2.20
-7.40%
9.02M
PBR
Petroleo Brasileiro S.A. (ADR)
29.56-2.43
-7.60%
8.76M

% Gainers

CIE
Cobalt International Energy
35.62 +11.72
+49.04%
4.56M
ALU
Alcatel-Lucent (ADR)
2.23 +0.29
+14.69%
39.51M
WNS
WNS (Holdings) Limited (ADR)
10.50 +1.10
+11.70%
1.78M
LNKD
LinkedIn Corp.
84.74 +8.35
+10.93%
3.49M

% Losers

OSG
Overseas Shipholding Group, Inc.
10.65-1.18
-9.97%
250,549
OC-B
Owens Corning (Warrant) 'B'
2.40-0.25
-9.43%
4,268
LF
LeapFrog Enterprises, Inc.
6.20-0.63
-9.22%
1.13M
KV-A
K V Pharmaceutical Co. Class A
2.37-0.24
-9.20%
315,837
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