The firm reported a net income of $1.02 billion, or 48 cents a share, in the third quarter. Analysts had expected earnings of 62 cents a share.
Big Banks Run Aground On Trading Revenue During Volatile Third Quarter, But Many Eke Out Earnings Gains
Goldman Sachs, JPMorgan and other major lenders reported dampened revenues after a quarter marked by global market volatility.
Earnings Preview: JPMorgan Chase & Co (JPM), Bank of America Corp (BAC), Wells Fargo & Co (WFC), Goldman Sachs Group Inc (GS)
The financial sector is still waiting to benefit from a U.S. Federal Reserve interest rate hike this year.
Stock Market Update: Asian Markets Open Higher As Financial Sector Takes Center Stage In Next Wave Of Quarterly Results
Asian markets opened higher Monday as investors focused attention on quarterly results. The biggest U.S. banks were scheduled to issue results this week.
Six of the top financial institutions in the U.S. together used nearly 400 recognized tax havens in 2014. Their offshore cash totaled $126 billion.
International financial regulators are at odds over new rules designed to keep taxpayers from having to foot big-bank bailouts.
In a wrongful dismissal suit brought against Citigroup, a former trader is alleging wrongdoing on the part of senior managers.
Willem Buiter issued a note that put the risk of a global recession in the coming two years at 55 percent, with China to blame.
General Electric said it would sell its U.S. healthcare finance unit to credit card lender Capital One Financial Corp for about $9 billion as it winds down its finance arm and returns to its industrial roots.
Only three new financial institutions have opened in the U.S. since 2010. One explanation might be the Dodd-Frank Act.
"We continue to uncover illegal credit card add-on practices that are costing unknowing consumers millions of dollars," a federal consumer watchdog said.
The move is likely to target mid-level and back-end staff to achieve maximum savings, according to reports.
The big banks are the first of six in the U.S. to post quarterly results between Tuesday and July 20.
If it goes ahead, the deal would be the biggest Chinese takeover of a U.S. company.
After the last financial crisis, banks were required to submit "living wills" each year to show how they would deal with bankruptcy during a crisis.
If substantiated, the probe could raise concerns over market integrity in U.S. government bonds central to the economic system.
The CEO of JPMorgan Chase & Co. has ascended to the rank of billionaire -- a rare feat for a bank executive.
Workers at bank branches will be cut from a bank that made more the $20 billion in profit last year.
Citigroup Analyst Details Expected iPhone 7 Improvements, Including Better Camera, Battery, Display Resolution
Analyst Jim Suva says he expects the iPhone 7 to be waterproof.
Major Banks Slapped With $5.7 Billion In Fines, Unprecedented Criminal Charges Over Foreign Exchange Manipulation
JPMorgan and others were penalized a combined $5.7 billion over foreign exchange manipulation. Despite the historic guilty pleas, no individuals were charged.
UBS said its settlement includes a $203 million penalty for pleading guilty to allegations it rigged Libor benchmark interest rates.
Deals flowed to the New York governor's campaign contributors despite federal rules barring donors from receiving bond work.
JPMorgan Chase & Co (JPM) And Bank of America Corp (BAC) To Cleanse Consumer Credit Reports Of Obsolete Debts
Amid lawsuits, Bank of America and JPMorgan Chase will repair the credit reports of borrowers who went through bankruptcy.
Dow Jones Industrial Average Dips Ahead Of GE Earnings; Etsy Inc Leaps 88% To Value Online Craft Marketplace At More Than $3B
U.S. stocks closed flat Thursday despite oil prices rallying to their highest level of 2015.
Earnings News: Goldman Sachs Group Inc (GS) Q1 Profit Surges 40% On Fixed-Income, Citigroup Inc (C) Profit Leaps 16% As Legal Costs Ease
The two banks reported quarterly results Thursday amid a busy week of corporate results from the financial sector.
However, BofA's first quarter reversed a surprise loss from a year ago when it was hit with $6 billion for litigation expenses.
Earnings Preview: JPMorgan Chase & Co (JPM), Wells Fargo & Co (WFC), Bank of America Corp (BAC), Goldman Sachs Group Inc (GS)
JPMorgan Chase is the first of six major U.S. banks scheduled to post quarterly results between Tuesday and April 20.
Sale of the company is likely to take place in the next nine to 12 months.
IndiGo has remained profitable in the last two years, avoiding much of the turbulence to hit rival Indian carriers.
PNC Financial joins the list of lenders refusing to do business with an environmentally damaging industry.