JPMorgan Chase & Co. (JPM) Financial News - Georgia Subpoenas, Dodd-Frank, Greek Rescue, Metlife Sale: Compliance
JPMorgan Chase & Co. (JPM)
Georgia Subpoenas, Dodd-Frank, Greek Rescue, Metlife Sale: Compliance
2011-07-22 02:14:03
Quote: JPMorgan Chase & Co. (JPM)Visa Inc. (V) are forecasting slower growth and smaller
retailers are questioning whether the change will boost their
bottom lines. Meanwhile, there is little specific discussion
among big retailers of any benefits for consumers.
MasterCard Inc. (MA) and prompted banks to seek to delay or overturn
the rules.
The largest debit-card issuers, which stand to lose
billions of dollars in annual revenue under the Fed caps, have
already begun to eliminate rewards programs and free checking
and new fees may be next in the effort to help make up the
difference, according to analysts and executives.
Wal-Mart Stores Inc. (WMT)Target Corp. (TGT), all of
whom lobbied for limits on the power of banks and payment
networks to impose fees.
For more, click here.
Compliance Policy
Euro-Area Leaders May Accept Greek Default, Ease Bailout Terms
Euro-area leaders may accept a temporary Greek default and
ease the terms on bailouts to cash-strapped nations as they
intensify efforts to resolve the 21-month sovereign debt crisis,
officials said.
Europe’s main rescue fund may get the power to buy bonds from
investors, help countries recapitalize banks and offer
precautionary lines of credit to repel speculative attacks.
Policy makers are meeting for the second time in a month in
a bid to calm Greece’s financial distress and inoculate Spain
and Italy from it. Seeking to ensure bondholders contribute more
to bailouts even if that risks a temporary default being
declared, the policy makers considered a 90 percent swap of
Greek bonds outstanding between now and 2020, said two officials
familiar with the negotiations. The talks are focused on a
default lasting just a few days, one said.
For more on Europe’s debt crisis, see EXT4.
Compliance Action
MetLife Seeks to Sell Business to Avoid Banking Regulation
MetLife Inc. (MET), the biggest U.S. life in...Open whole article (external link)