Monday, July 22nd, 2019

May 2012 News Archive

New Mandatory Arbitration Guidelines?

For decades, companies have worked double time to keep consumers from suing and instead, entering into arbitration.

Dimon Will Testify in Senate on Massive Loss

by CreditCardsLab

JPMorgan Chase CEO, Jamie Dimon, has agreed to testify in June before the Senate. He’s expected to explain the massive $2 billion loss.

Citigroup Sued Over CDO Losses

by Antonio Bard

Citigroup is now on the wrong end of a lawsuit filed by Woori Bank. In it, the goal is to recover losses from the Seoul-based lender’s $95 million investment in debt obligations.

Did John Edwards Lie During Campaign?

by Beth May

The U.S. is arguing former presidential candidate John Edwards “planted seeds of destruction” during his bid for president in 2008.

Former GE Bankers Convicted of Muni Bond Bid Scheme

by Jon Dell

3 former General Electric bankers have been found guilty of defrauding several cities and the IRS in a massive rigging scheme involving bids and municipal bonds.

Will JPMorgan Loss Mean More Fed Oversight?

by Evita Page

Regulators are closely watching for repercussions of the massive $2 billion loss by JPMorgan trading position.

Fuel Demand Down in U.S.: MasterCard

by Antonio Bard

According to MasterCard, U.S. gasoline demand fell for a second consecutive week to the lowest level in two months.

Former AMEX FCO Joins Groupon

by Beth May

Groupon Inc., the popular local deals coupon site, named Daniel Henry, the finance chief of American Express Co. and Robert Bass, a vice chairman of Deloitte LLP, as directors in efforts to improve investor confidence.

Americans Reduced Credit Card Usage

by Evita Page

Consumer spending defines 70 percent of the economy and it’s been rising at an impressive pace this past year. It appears they’re using cash far more often than their credit cards.

Former JPMorgan Manager Creates New Hedge Fund

by Jon Dell

William Lee, a former JPMorgan Chase equity derivatives manager, announced he’d begin his own hedge fund before year-end.