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Tag Archives: JPMorgan Chase & Co.

JPMorgan, banks to halt foreclosures for three weeks

Citigroup Inc., JPMorgan Chase & Co., Bank of America Corp., Morgan Stanley and Wells Fargo & Co. agreed to suspend foreclosures while the Obama administration crafts a housing plan to modify mortgages for troubled borrowers. Citigroup will halt foreclosures through ...

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Obama becomes banker-in-chief in credit market freeze

The U.S. economy has little chance of recovering from what may prove to be its worst recession since World War II unless President Barack Obama shows he can get banks to lend money again. Since the Bush administration and Congress ...

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Former bank officer pleads guilty to fund misapplication

A former president of First Bank Mortgage has pleaded guilty to misapplication of funds, causing a loss to the mortgage company of $35 million, U.S. Attorney Catherine Hanaway announced. Mark Turkcan’s problems began when, as an employee for Sheahan Financial ...

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Banks’ ‘catatonic fear’ means consumers don’t get relief

As the new owner of $172.5 billion of preferred shares and warrants in 208 U.S. financial institutions, the Treasury Department hasn’t succeeded in thawing frozen credit markets, leaving taxpayers propping up an industry that won’t lend to them. While inter-bank ...

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