Latest JPMorgan Chase & Co News

JPMorgan fined almost $350M for issues with trade surveillance program

Mar. 14, 2024 14:21 PM EDT

JPMorgan is facing nearly $350 million in fines from bank regulators due to issues with its trade surveillance program. The Office of the Comptroller of the Currency said Thursday that it was assessing a $250 million civil penalty against JPMorgan Chase Bank because it found that the...

Why does the US government think a Kroger-Albertsons merger would be bad for grocery shoppers?

Feb. 27, 2024 10:49 AM EST

Kroger and Albertsons — two of the biggest grocery chains in the United States — had hoped to complete the largest supermarket merger in the country's history this year. But their plan to compete with big-box retailers by combining forces faces legal challenges that make it look far less...

US sues to block merger of grocery giants Kroger and Albertsons, saying it could push prices higher

Feb. 26, 2024 17:47 PM EST

The Federal Trade Commission sued to block a proposed merger between grocery giants Kroger and Albertsons, saying the $24.6 billion deal would eliminate competition and lead to higher prices for millions of Americans. The FTC filed an administrative complaint against the companies...

Amazon joins 29 other 'blue chip' companies in the Dow Jones Industrial Average

Feb. 26, 2024 07:22 AM EST

Amazon.com Inc. is joining the ranks of one of Wall Street's oldest and most exclusive stock indexes: The Dow Jones Industrial Average. The e-commerce pioneer will officially take its position among the 30-company Dow before the open of trading Monday, replacing drugstore operator...

Americans' reliance on credit cards is the key to Capital One's bid for Discover

Feb. 20, 2024 16:31 PM EST

NEW YORK (AP) — Americans have become increasingly reliant on their credit cards since the pandemic. So much so that Capital One is willing to bet more than $30 billion that they won't break the habit. Capital One Financial announced Monday that it would buy Discover Financial...

Capital One's bid for Discover carries expectation that Americans won't slow credit card use

Feb. 20, 2024 12:21 PM EST

NEW YORK (AP) — Capital One Financial is betting that Americans will keep shopping and use a credit card to pay for their purchases at stores and on the internet. Capital One announced Monday that it would buy Discover Financial Services for $35 billion. The combination could...

Capital One to buy Discover for $35 billion in deal that combines major US credit card companies

Feb. 19, 2024 23:36 PM EST

NEW YORK (AP) — Capital One Financial said it will buy Discover Financial Services for $35 billion, in a deal that would bring together two of the nation's credit card companies as well as potentially shake up the payments industry, which is largely dominated by Visa and Mastercard. ...

Bucking industry trends, Chase to open 500 new locations largely in cities where rivals dominate

Feb. 06, 2024 11:50 AM EST

NEW YORK (AP) — JPMorgan Chase plans to open at least 500 new branches in the next three years, the bank said Tuesday. It will reverse a decade-long industry trend where banks like JPMorgan and Bank of America have closed branches as fewer Americans need to cash a paycheck or pull money out of an...

With merger scuttled, Spirit Airlines faces an uncertain future. Is bankruptcy a possibility?

Jan. 17, 2024 19:13 PM EST

Spirit Airlines hasn’t made money since before the pandemic, ticket sales haven’t bounced back as quickly as the carrier expected, and dozens of its planes will be grounded at times this year because of a problem with the engines. A sale to JetBlue represented a lifeline for...

Banks upbeat on US consumer despite bank profit declines, inflation and rising debt levels

Jan. 12, 2024 18:27 PM EST

NEW YORK (AP) — The biggest banks in the country posted strong profits last year, helped by higher interest rates and a strong economy, despite having to deal with the lingering industry costs of last year's banking crisis that caused the collapse of Silicon Valley Bank and Signature Bank. ...