The EU opened a formal antitrust investigation into Amazon on Wednesday centered on how the e-commerce giant uses merchants' data.Technologyread more
Investors are keen to find out how looming interest rate cuts will impact the second biggest U.S. lender by assets.Financeread more
Turo is a peer-to-peer car-sharing firm that is often referred to as the Airbnb for cars.Technologyread more
Mortgage interest rates surged last week to their highest level in a month, and consequently homebuyers turned on their heels.Real Estateread more
Ascending triangle patterns have been appearing across the stock market, and they tend to be precursors to higher prices, says Miller Tabak's Matt Maley.Trading Nationread more
U.S. officials see the deal as a threat to NATO, for which Turkey provides the second-largest military.World Politicsread more
Google's services have been blocked in China for several years, but the company still has a business there, as the tech giant seeks to sell products to Chinese firms in...Technologyread more
"The charts, as interpreted by Carley Garner, suggest that the upside in the stock market has gotten more limited," Jim Cramer says.Mad Money with Jim Cramerread more
China may have signaled it's going more hard-line on trade, but it could be a good thing, former U.S. negotiator Clete Willems told CNBC.World Economyread more
Support for U.S. President Donald Trump increased slightly among Republicans after he lashed out on Twitter over the weekend in a racially charged attack on four minority...Politicsread more
A key read on the industry, the Architecture Billings Index, fell into negative territory in June, according to the American Institute for Architects. Inquiries for new...Real Estateread more
JPMorgan Chase & Co has agreed to pay $614 million to the U.S. government to settle claims it defrauded federal agencies by underwriting sub-standard mortgage loans, the U.S. Justice Department said on Tuesday.
JPMorgan, the largest U.S. bank by assets, is admitting in the settlement that for more than a decade it approved thousands of loans that were not eligible for insurance by the Federal Housing Administration or the Department of Veterans Affairs, the department said in a statement.
As a consequence, "both the FHA and the VA incurred substantial losses when unqualified loans failed and caused the FHA and VA to cover the associated losses," the Justice Department said.
The settlement was filed in U.S. District Court for the Southern District of New York and was approved by Judge J. Paul Oetken, according to a statement from the U.S. Attorney's Office in Manhattan.
The bank said in a statement that the "settlement represents another significant step in the firm's efforts to put historical mortgage-related issues behind it."
The company said it has already recorded reserves for the settlement and does not expect the deal to have any significant additional financial impact.
Last year, the company agreed to about $20 billion in settlements in its drive to clear up legal claims. The deals covered claims over other mortgage issues, as well as derivatives and power trading.
On Monday, the company agreed to pay $1.45 million to settle four-year-old allegations brought by the U.S. Equal Employment Opportunity Commission that the bank had maintained a sexually hostile environment for women in a mortgage loan center on Ohio.