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Experts to deliver annual state, national economic outlook
Narayana Kocherlakota, Lionel W. McKenzie Professor of Economics at the University of Rochester, and former president of the Federal Reserve Bank of Minneapolis, and James E. Glassman, managing director and head economist for commercial banking at JPMorgan Chase & Co., will present their outlook for the U.S. and New York state economy during the 37th annual […]
JPMorgan, NY, feds reach $13B settlement
ALBANY — JPMorgan Chase & Co. has reached a record $13 billion settlement with federal and state authorities, resolving claims over the bank’s sales of mortgage-backed securities that collapsed during the U.S. housing crisis. It is the largest settlement ever between the Department of Justice and a corporation and marks a key chapter for the […]
Official: $11B eyed in JPMorgan settlement talks
ALBANY — An $11 billion national settlement is under discussion to resolve claims over JPMorgan’s handling of mortgage-backed securities in the run-up to the recession, said a government official familiar with ongoing negotiations among bank, federal and state officials. The Justice Department is taking the lead on the settlement, which would include $7 billion in […]
JPMorgan pays $920M, admits fault in trading loss
WASHINGTON — JPMorgan Chase & Co. will pay $920 million and has admitted that it failed to oversee trading that led to a $6 billion loss and renewed worries about serious risk-taking by major banks. U.S. and U.K. regulators said Thursday that the largest U.S. bank’s weak oversight allowed traders in its London office to […]
JPMorgan clamps down on fees from payday lenders
NEW YORK — JPMorgan Chase said Wednesday that it will take steps to protect its customers from fees and other charges that payday lenders may slap on them. The bank said it will limit the fees that customers are charged when they overdraft their accounts to make payments to payday lenders. It will also “enhance […]
JPMorgan to cut 4,000 jobs
NEW YORK — JPMorgan is trimming about 4,000 jobs, becoming the latest big bank to shrink its work force. The bank says the cuts will be focused in consumer banking and mortgages. A bank spokeswoman stressed that many of the cuts would come through attrition, but the bank will lay off workers as well. The […]
SEC reviews JPMorgan’s filings after $2B loss
WASHINGTON — Federal regulators are reviewing what JPMorgan Chase told investors about its finances and the risks it took weeks before suffering a multibillion-dollar trading loss. Mary Schapiro, chairman of the Securities and Exchange Commission, told the Senate Banking Committee Tuesday that the agency is examining JPMorgan’s earnings statements and first-quarter financial reports to determi[...]
Mueller confirms probe of JPMorgan
WASHINGTON — FBI Director Robert Mueller says the bureau has launched a preliminary investigation of JPMorgan Chase & Co. following a $2 billion trading loss at the bank. Mueller’s comment Wednesday at a Senate Judiciary Committee hearing was the first on-the-record confirmation of the probe. On Tuesday, a law enforcement official said that the FBI’s […]
JPMorgan exits electronic mortgage tracking system
NEW YORK CITY — JPMorgan Chase's CEO says the bank has stopped using the electronic mortgage tracking system used by major financial institutions. Lawyers have argued in court proceedings ...
Case Digests
- Fourth Department – Bill of particulars: Harris v. Rome Memorial Hospital, et al.
- NYS Advisory Committee on Judicial Ethics – Accusations against co-judge: Opinion 22-148
- Fourth Department – Medicaid: Washington Center for Rehabilitation and Nursing Home v. NYS Dept. of Health
- Fourth Department – Criminal possession of a firearm: People v. Wilson
- Fourth Department – Promoting prostitution: People v. Watts
- Second Circuit – Class certification: Arkansas Teachers Retirement System V. Goldman Sachs Group Inc.
- Fourth Department – Show-up identification: People v. Waggoner
- Fourth Department – Association: Victory Village Tenants Assoc. v. Evergreen Communities, et al.
- Second Circuit – In personam jurisdiction: Kaplan v. Bank Saderat PLC
- Fourth Department – Labor Law: Verdugo v. Fox Building Group
- Fourth Department – Out-of-possession landlord: Truax v. M.D. Meyer’s Properties
- Fourth Department – Discovery: Sylvester v. Sanders
Law News
- Espinosa named general counsel at Greenlight Networks
- Barclay Damon hires attorney Matt Smith
- Rochester man sues Geneseo police, alleging false arrest, assault
- The Daily Record’s Power List for Intellectual Property 2023
- NY ethics panel says judges can join NRA
- Harter Secrest & Emery LLP names partner-in-charge of Buffalo office
- Banned professor sues SUNY Fredonia leaders
- Hochul signs law requiring unemployment insurance information from employers
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