Financials

The bank is buckling down on additional credit lines.

Mail volumes for the courier have fallen 30 percent.

The Small Business Administration said that for eight hours ending at midnight Eastern time it would accept loans only from small lenders.

The 'unprecedented demand' for Paycheck Protection Plan Program loans clogged the E-Tran, the lender’s portal to submit requests for small business relief funding..

In 1998, Jamie Dimon was forced out of his role as president of Citigroup. By 2005 he was the CEO of JPMorgan Chase.

There were more than 1.7 million loans approved in the first round of the program

Banks are expected to issue new guidance for small business owners on Friday.

Ten of the world's largest banks, including JPMorgan Chase (NYSE:JPM) and Bank of America, have been sued for allegedly conspiring over nearly 14 years to rig prices in the $9.6 trillion U.S. corporate bond market, costing ordinary investors billions of dollars.

Lord & Taylor is not alone among U.S. department store operators forced to weigh bankruptcy in response to prolonged store closures following the coronavirus outbreak.

By reshuffling applications to frontload businesses seeking higher loans, Chase, along with other big banks, received nearly $6 billion in processing fees.

It is the first major firm to hand back money aimed at helping small businesses ride out the coronavirus impact

JPMorgan has a stack of applications waiting for the next round of money if and when Congress approves.

The cuts are said to amount to less than 5 percent of the workforce

In January, just before the virus started spreading around the world, Morgan Stanley boosted its performance targets and set new goals for cost-cutting.

In an op-ed, Minneapolis Federal Reserve Bank President, Neel Kashkari, said that raising that amount from private investors today would ensure that large banks can support the economy over a broad range of virus scenarios.

Morgan Stanley is the smallest of the six major U.S. banks with few true peers in the bunch, which has left some investors unsure how it will fare in a coronavirus downturn.

The lender, the most global of the U.S. banks, said net income fell to $2.52 billion, or $1.05 per share, in the first quarter.

Goldman Sachs reported a 49 percent drop in quarterly profit.

The buildout in so-called reserves helped drag net income down 45 percent to $4 billion, or 40 cents a share, in the three months through March.

Just over 78,000 people attended 2019’s Burning Man.