November 23, 2006 |
JPMorgan Chase & Co., the third-biggest U.S. bank, agreed to pay $2.2 million to settle claims that the company's Bank One unit discriminated against hundreds of employees on long-term medical leave, the government said Wednesday. The U.S. Equal Employment Opportunity Commission claimed Bank One, which JPMorgan acquired in 2004, violated the Americans With Disabilities Act by failing to properly accommodate employees whose medical leaves exceeded six months.
April 21, 1991
Maybe, just maybe, the American dream is not dead for the urban poor in California and Massachusetts. Hard work may still mean a chance to own a home or business, now that two major banks have committed billions of dollars in loan programs to help minority and low-income residents. The commitments from Bank of America and the Bank of Boston are commendable, but they are not altruistic--just good business.
March 21, 1997 |
First Bank System Inc. on Thursday agreed to acquire U.S. Bancorp for about $9 billion in stock, fulfilling a long-sought goal of expanding to the West Coast. First Bank's acquisition of Portland, Ore.-based U.S. Bancorp would form the 14th-largest U.S. bank, with $70 billion in assets and 1,000 branches from the Mississippi River to the Pacific Ocean.
February 2, 2004 |
Kim Saunders left a vibrant financial institution in Washington for a rescue mission: reviving a century-old black-owned bank hobbled by bad loans and dogged by government regulators. "Everyone should do everything to keep it operating," said Saunders, president and chief executive of Consolidated Bank & Trust Co. "I think it's a national treasure." She doesn't have much time.
June 29, 2001 |
WingspanBank.com, the Internet-only bank that Bank One Corp. opened two years ago "with the promise of revolutionizing the way people manage their finances," is shutting its virtual doors. Chicago-based Bank One, the No. 5 U.S. bank, said Thursday it will close Wingspan after mid-September to cut its "substantial expense." Spokesman Thomas Kelly wouldn't quantify the expected savings. He said customers were notified by e-mail that their 225,000 accounts will be shifted to Bankone.
December 22, 1999 |
Bank One Corp. Chairman and Chief Executive John B. McCoy, who built the fifth-largest U.S. bank through acquisitions, resigned Tuesday after his purchase of a credit-card company backfired, hurting profit and cutting the bank's stock by almost half in four months. Bank One stock rose nearly 11% after the bank said it's seeking a replacement for McCoy, 56, ending the dynasty that ran the bank for three generations, starting with McCoy's grandfather.
October 18, 2008 |
It only took trillions of dollars of government cash and guarantees, but the fear gripping global markets finally has begun to ease. Now it's up to the world's bankers to step up and do their part to keep the credit crisis from unleashing financial Armageddon. The mood shift so far has been modest, but encouraging.
CALIFORNIA | LOCAL
February 28, 2004 |
Los Angeles' tallest skyscraper, a centerpiece of the skyline now crowned by a halo of colored lights that glow purple and gold when the Lakers win and red and green during the Christmas holidays, will get a new adornment this morning. Weather permitting, a helicopter will lift two 7-ton signs to the top of the former Library Tower, each bearing the name of the building's largest corporate tenant, US Bank.
December 16, 2010 |
Wells Fargo & Co., the San Francisco lender that doubled its size by buying Wachovia Corp. during the credit crisis, passed JPMorgan Chase & Co. to become the largest U.S. bank by stock market value. Wells Fargo's market capitalization rose to $157.6 billion at Thursday's close of New York trading, surpassing JPMorgan's $156.4 billion. Wells Fargo is ranked fourth by assets and deposits, while JPMorgan is second behind Bank of America Corp., and New York-based Citigroup Inc. is third.
January 10, 2012 |
Ninety-two U.S. banks and thrifts failed in 2011, down from 157 in 2010 and 140 in 2009. In a report this week, SNL Financial generated a series of charts that showed the number of failures were far greater during the savings-and-loan meltdown that began in the 1980s and extended into the early '90s. The assets of failed banks peaked in 2008, however. No surprise there: Among the institutions seized by regulators was Seattle's Washington Mutual Bank, the largest savings and loan in the nation with $307 billion in assets and the biggest bank ever to fail . WaMu is now part of JPMorgan Chase & Co. Another big failure that year was Southern California's IndyMac Bank, another savings and loan, which had $32 billion in assets.