In a settlement deal, JPMorgan Chase has agreed to pay some $13 billion in fines and other payments related to mortgages and mortgage securities that helped cause the financial crisis that began in 2007.
Originally published on Tue November 19, 2013 5:38 pm
In an agreement settling many U.S. claims over its sale of troubled mortgages, JPMorgan Chase will pay a record $13 billion, in a deal announced by the Justice Department Tuesday. The plan includes a $4 billion payment for consumer relief, along with a payment to investors of more than $6 billion and a large fine.
The latest updates on this story are at the bottom of this post. We've also added a few key points to the main post.
When we think of jobs in Connecticut, the call center industry isn't the first thing that comes to mind. But according to the Communication Workers of America, there are more than 49,000 call center jobs in the state: people answering phones for companies like AT&T, Comcast, Verizon Wireless, and Cablevision.
Thirty-seven companies have applied to the state for the right to produce or dispense medical marijuana. The Department of Consumer Protection said it expects to award licenses under the state's new medical marijuana law early next year.
The Department of Revenue Services said it collected almost $180 million in back taxes through a two-month-long amnesty program. That's far in excess of the $35 million it set as a goal at the beginning of the amnesty.
Originally published on Mon November 18, 2013 8:45 pm
JPMorgan Chase & Co. will pay $4 billion to consumers who were hurt by faulty mortgage underwriting, part of a larger $13 billion deal to settle the bank's liability in the collapse of toxic securities during the housing crisis.
When the Affordable Care Act is fully implemented, large companies will be subject to a penalty if they don't provide coverage for their workers. But life is also changing in unexpected ways for small companies as the health care rollout continues.
Connecticut's gas utilities are asking regulators to lower the amount they'd have to charge businesses that sign up for new gas service. The request comes as regulators debate the final shape of the state's new comprehensive energy plan.
Originally published on Fri November 15, 2013 11:32 am
We told you this morning about changes announced in China regarding the country's one-child policy, as well as an announcement that it was ending its system of labor camps. But those aren't the only policy shifts by the Communist Party.
China also said Friday that it would loosen restrictions on foreign investment in e-commerce and other businesses, and allow private competition in state-dominated sectors.
The effort to oppose a new free trade agreement seems to have caused a rare split in the ranks of Connecticut's congressional delegation. Connecticut's five U.S. House members are all Democrats, and usually stand together on a wide range of issues. But a huge new free trade agreement currently being negotiated between the U.S. and ten other Pacific nations is causing some friction between colleagues.
Connecticut looks likely to maintain its level of job growth this year, according to the New England Economic Partnership, but the forecasting group says the state’s recovery will continue to lag behind the national average.
The town of Palmer, Massachusetts will hold a hand recount of its vote on a resort casino plan, but not until November 26. The Mohegan Tribal Gaming Authority had requested the recount after losing the poll November 5 by just 93 votes.
Insurance professionals heard on Tuesday an impassioned plea from the governor to keep regulation at the state level. Hundreds from the industry gathered at the Connecticut Convention Center in Hartford for an annual market forecast.