bank

JPMorgan Chase’s closest local rival in the race to lend out US coronavirus loans wasn’t Citigroup or BNY Mellon — it was a tiny, tech-savvy lender based in New Jersey. Jamie Dimon’s megabank handed out nearly $29 billion of government money to small businesses during the throes of the pandemic shutdown — the most of …

This year 100-year-old World War II veteran who helped defeat fascism only to endure harsh segregation at home has just won a battle against a new foe – his bank. The JP Morgan Chase bank on Friday agreed to drop its foreclosure case against centenarian James Been over a disputed $100,000 home equity loan issued …

Remington Arms, America’s oldest gun maker, is preparing to file for Chapter 11 bankruptcy protection and is in advanced talks for a potential sale to the Navajo Nation, The Wall Street Journal reported on Friday. Remington is making preparations for the Native American tribe to serve as the lead bidder to purchase its assets out …

The Federal Reserve is making life a little harder for Jamie Dimon and his fellow big bankers until it gets more clarity on just how painful the coronavirus pandemic will be for the American economy. On Thursday, the Fed unleashed a series of restrictions on bank operations over the next few months, including a hard …

The Federal Reserve and four other regulatory agencies announced on Thursday that they have finalized a rule that will ease restrictions curtailing the ability of banks to make investments in such areas as hedge funds. The announcement of the easing of regulations know as the “Volcker Rule” gave an immediate boost to bank stocks because …

Wirecard collapsed on Thursday owing creditors almost $4 billion after disclosing a gaping hole in its books that its auditor EY said was the result of a sophisticated global fraud. The payments company filed for insolvency at a Munich court saying that, with 1.3 billion euros ($1.5 billion) of loans due within a week, its …

Every kid’s favorite pizza-loving mouse has become a coronavirus casualty. Chuck E. Cheese’s parent company, CEC Entertainment, filed for bankruptcy late Wednesday after the pandemic shuttered most of its family-friendly eateries. The restaurant-and-arcade chain said it will use the Chapter 11 process to restructure its debt-heavy balance sheet through talks with financial stakeholders and landlords …

Restaurant chain Chuck E. Cheese parent CEC Entertainment filed for Chapter 11 bankruptcy on Thursday, making it the latest casualty of the COVID-19 pandemic that has crushed entertainment and leisure industries globally. The company described the current crisis as the “most challenging” in its history and said it would use the bankruptcy proceedings to continue …

GNC filed for bankruptcy, saying it will shutter more than 15 percent of its stores after state-ordered coronavirus lockdowns crimped sales this spring. The 85 year-old supplements seller — which struggled with sagging sales in recent years, even as it shouldered more than $700 million in debt — said in a Chapter 11 late Tuesday …

With the economy slowly bouncing back from coronavirus quarantines, Wall Street bonus season is shaping up to be less of a nightmare and more of a very bad dream. The latest survey by compensation consultant Johnson Associates predicts that financial services pay will be slashed by 15 percent to 20 percent in 2020 — a …