From the Washington Post
In a sign that banks will continue to be punished for past mistakes, JPMorgan Chase set aside a large sum to fight lawsuits related to poorly-written mortgages during the real estate boom.
Here's the link to Chase's Q4 2011 earnings report
. I found a few interesting things to note in the review of Chase's Consumer & Business Banking division:
Chase blamed the debit card regulation for reducing their revenue and forcing them to increase fees:
Noninterest revenue was $1.6 billion, a decrease of 7%, driven by lower debit card revenue reflecting the impact of the Durbin Amendment, partially offset by increased deposit-related fees.
Apparently, Chase didn't see a hit from the Bank Transfer Day movement:
Checking accounts totaled 26.6 million, down 2% compared with the prior year, driven by the attrition of converted WaMu Free Checking accounts; and were flat compared with the prior quarter.
The following metrics indicate more downward pressure on deposit rates:
Average total deposits were $367.9 billion, up 7% from the prior year and 2% from the prior quarter.
Deposit margin was 2.76%, compared with 2.96% in the prior year and 2.82% in the prior quarter.