JPMorgan Chase reported a record quarterly profit Friday. The bank said it made $5.3 billion in earnings for common shareholders, a widely used measurement, from July through September, up 36 percent from the same period a year ago.
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.