JPMorgan

Chase Card Services, a division of JPMorgan Chase & Co, has partnered United Airlines to introduce a new United MileagePlus® Explorer Card that offers unique benefits and perks.

Cardmembers participating in MileagePlus Explorer program will receive special bonuses when traveling on United including first checked bag free, priority boarding, passes to United airport club lounges and the ability to redeem MileagePlus miles for any seat, any time, on any United flight, with no restrictions and no blackout dates.

The three largest US banks Bank of America, JPMorgan Chase and Wells Fargo have unveiled their new P2P payments joint venture.

The banks say that their customers will be able to transfer and move funds directly from their existing checking accounts using an e-mail address or mobile number – instead of providing checking account and routing numbers.

JPMorgan has enhanced its suite of cash management solutions in Asia Pacific including JPMorgan ACCESS, JPMorgan Receivables Edge and International Demand Deposit Account ("iDDA") platform.

JPMorgan ACCESS and JPMorgan Receivables Edge now support additional languages including Japanese and Chinese. Besides, JPMorgan ACCESS now supports newly-added flexible approval rules and Receivables Edge has also been enhanced with improved logic rules to increase the automatic match and reconciliation rate for single receipts for multiple invoices.

Lloyds Banking Group wants to raise £20 billion ($32 billion) in a move to fund the sale of its 600 branches, according to the Sunday Times reports.

Almost owned by the government Lloyds needs more cash to address a funding gap at the branches, the paper reported.

Citigroup, Credit Suisse, JPMorgan Chase, Rothschild and UBS are all hoping to win the deal to advise on the sale of the branches but have been told they must offer a loan of between 15 and 20 billion pounds if they want to pick up the business, according to the Sunday Times.
 

The US Federal Reserve ordered Bank of America to adjust its plans for a modest dividend increase, which is a sign that regulators see the bank as being still financially weaker than other financial institutions.

BofA’s plans were to get into the second wave of banks raising dividends in the second half of this year. In comparison with its rivals like JPMorgan Chase & Co and Wells Fargo, Bank of America has less capital and is still heavily struggling to remain consistent.

Chase, the consumer and commercial banking division of JPMorgan Chase, has upgraded its iPhone application adding remote cheque deposit and person-to-person payment feature.

In order to make a deposit a customer needs to enter first the account details and payment amount and after that add photos of the front and back of the cheque taken with their iPhone or iPod camera.

Besides, Chase has also added P2P QuickPay to the latest version of its free app, enabling payments to be made to anyone as long as the customer has their e-mail address.

Shareholders of Washington Mutual Inc are demanding an independent investigation into the company's collapse in a move to get a "pay off," according to court documents.

Last week the bankruptcy court was asked by the shareholders to oversee Washington Mutual's Chapter 11 case to appoint an examiner to investigate the failure of the company's lending business and the value of legal claims stemming from it.

JPMorgan Chase & Co, the second-largest U.S. bank by assets, provided its financial data reporting the increase of its fourth-quarter profit to $3.3 billion from $702 million a year earlier, which was helped by strong results from its investment bank unit.

The bank reported that a quarterly profit was 74 cents a share, compared with 6 cents a year ago. Analysts on average expected 61 cents a share. The revenue posted by the bank was $25.2 billion.
 

 Sumitomo Trust and Banking has approached Daiwa Securities SMBC and UBS AG to advise on its planned merger with Chuo Mitsui Trust Holdings, as reported by the sources familiar with the situation.

Meantime Chuo Mitsui hired Nomura Holdings Inc and JPMorgan Chase & Co to advise it on the transaction.

The two banks said earlier this month they plan to merge, creating Japan's largest trust bank and gaining scale to better compete in a crowded asset management industry. They aim to complete the merger by April 2012.


 

 Largest US banks Citigroup Inc., JPMorgan Chase & Co. and Wells Fargo & Co. reported they will stop providing insurance of checking accounts in the U.S. above the standard $250,000 limit. The banks are exiting the Federal Deposit Insurance Corp.’s Transaction Account Guarantee Program on Dec. 31, spokesmen for the three companies said to Bloomberg.

The program was launched in October 2008 by the government as an emergency measure to shore up confidence in the banking system and avert a collapse of financial markets.

 The Securities and Exchange Commission on Wednesday announced the settlement with JPMorgan Chase & Co. according to which it has agreed to pay $75 million in fines and forfeit $647 million in fees to settle federal regulators' charges. As the accusation said JPMorgan made unlawful payments to friends of public officials to win municipal bond business in Jefferson County, Ala.

As it became known from the Independent on Sunday newspaper, senior management at Cazenove and JPMorgan are to reach an agreement, concerning a price for Cazenove's share of their J. P. Morgan Cazenove joint venture by the end of the year. The joint venture was created in 2005. And in compliance with the terms of the deal there are options for JPMorgan to buy or Cazenove to sell its interest in the joint venture in February 2010.