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Tag Archives: JPMorgan

JPMorgan: Most of our PPP loans were small and for small businesses

JPMorgan, the largest US bank by assets and the target of recent PPP-related complaints, received approval for a total of approximately $ 15 billion in 211,000 loans as part of the second wave of the US Small Business Administration’s Coronavirus Assistance Program. The total number of JPMorgan loans under the PPP since the program was launched in early April is …

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Alex Rodriguez, Jennifer Lopez Keep JPMorgan to raise money for Mets Bid (EXCLUSIVE) – Diversity

Retired baseball star Alex Rodriguez and his fianc√©, recording artist and actress Jennifer Lopez, have hired JPMorgan Chase to raise funds for a possible offer for the New York Mets, the people familiar with the matter. The superstar couple works with CEO Eric Menell, co-director of the bank’s North American media investment banking, said people who have been granted anonymity …

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Wells Fargo, BofA and JPMorgan grant overdraft relief when stimulus checks are introduced

FILE PHOTO: People walk past the JP Morgan & Chase Co. building in New York in a file photo dated October 24, 2013. REUTERS / Eric Thayer / File Photo (Reuters) – Leading US retail banks said Wednesday that they would relieve current account overdraft customers from taking full advantage of the federal government’s cash stimulus program. Americans will receive …

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JPMorgan Chase (JPM) Q1 2020 earnings

JPMorgan Chase posted earnings well below analysts’ expectations in the first quarter, despite the bank’s earnings sustained given the coronavirus pandemic. The drop in earnings was caused by a massive $ 6.8 billion increase in the bank’s credit reserves, suggesting that management expects the company’s lending defaults to increase, from credit cards in the consumer sector to loans in the …

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JPMorgan temporarily stops small business loans outside the federal plan

JPMorgan Chase has temporarily stopped accepting small business loan applications outside of the state paycheck protection program, the bank told the Financial Times on Wednesday. Chase was flooded with more than 375,000 applications for $ 40 billion in loans under the $ 350 billion small business rescue program. This is a higher number of applications than any other bank, consumer …

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JPMorgan Chase CEO tears botched COVID-19 plan

In a veiled blow to the Trump administration on Monday, JPMorgan Chase CEO Jamie Dimon blamed poor planning for the COVID-19 crisis. In an annual letter to shareholders, Dimon said: “As a nation, we were clearly not prepared for this global pandemic, and the consequences were devastating.” Dimon predicted a “bad recession” as a fallout. In the worst case, unemployment …

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WeWork includes rescue plans from SoftBank and JPMorgan

WeWork's board, which does not have enough money for shared office space, was able to choose between two competing financial bailouts on Tuesday, experts said. One is offered by SoftBank and the other by a financial consortium led by JPMorgan Chase. SoftBank, a Japanese technology group that is already WeWork's largest external shareholder, offers to acquire a controlling stake by …

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