Topic “JPMorgan Chase”
Federal Report Faults Banks on Huge Bonuses
With the financial system on the verge of collapse in late 2008, a group of troubled banks doled out more than $2 billion in bonuses and other payments to their highest earners. Now, the federal authority on banker pay says that nearly 80 percent of that sum was unmerited.
Read the entire story »Big banks duck fee fight
Megabanks like JPMorganChase, Citigroup and Bank of America stand to lose billions of dollars if new debit card “swipe fee” limits go into place as part of Wall Street reform.
But you wouldn’t know it from their public posture. They’ve barely uttered a word of opposition — even as they mount a furious campaign to strip the language out of the bill behind the scenes.
Read the entire story »Senate Financial Reform Bill DOESN'T End Too Big To Fail, Major Credit Rating Agency Says
So much for ending Too Big To Fail.
The financial reform bill championed by the Obama administration and Senate Democrats as permanently ending the idea that large, interconnected financial institutions are too big to fail does no such thing, analysts at Moody's Investors Service cautioned today in a new report.
Read the entire story »Financial firms spending big sums on lobbying
As this Politico article explains, the issues of financial regulation and health care reform have fueled spending on lobbyists to work the halls of Congress. Efforts to strengthen oversight of financial institutions are an example of what's driving this:
[JPMorgan Chase] spent more than $5 million lobbying Congress last year and has already doled out nearly a half-million dollars in campaign donations to curry favor with lawmakers from both parties.
CREW Releases Analysis of Credit Card Execs' 2008 Electoral Cycle Political Giving
Washington, D.C. - In light of President Obama’s meeting with credit card executives last month – and the administration’s restrictive new rule on registered lobbyists seeking stimulus funds – Citizens for Responsibility and Ethics in Washington (CREW) analyzed those industry executives’ 2008 election cycle donations to illustrate the influence they wield in government.