The Affordable Care Act wasn't aimed at people who already get health care through their employers, but it's having such a revolutionary effect on the marketplace, they might end up feeling its effects anyway.
State and federal regulators have hailed Tuesday's $13 billion settlement with JPMorgan Chase & Co. over faulty mortgage assets it sold in the years leading up to the financial crisis as a big victory for the judicial system.
But like other big settlements to emerge from the financial crisis, the deal leaves unclear just what the bank did wrong.
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.
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.
Community banks are a vital part of the credit landscape, according to a new report. Despite their popularity with customers, their numbers are shrinking. Federal regulators joined with state authorities to take an in depth look at community banking around the country in what's being viewed as the most comprehensive study of its kind.
For many online and other small businesses, getting a loan or a big cash advance is tough. Banks and other traditional lenders are often leery of those without years of financial statements and solid credit scores.
But some lenders and other financial services companies are beginning to assess credit risk differently — using criteria you might not expect.
Jeffrey Grossman is an acupuncturist in Bellingham, Wash. He's also a small businessman. He creates media marketing materials for other acupuncturists hoping to expand their practice.
The job of software developer is one of the hottest occupations in the world right now, and demand for developers is only expected to accelerate. That poses a dilemma for startup technology companies here in Connecticut. In an incredibly competitive marketplace, how do they find and cultivate the right talent? One program in Connecticut is trying to come up with a solution.
Economists at the University of Connecticut are calling on the state to use bonds that have been approved by the legislature but never issued. The Connecticut Center for Economic Analysis forecast reports that if the state relies only on traditional drivers like the housing market to grow the economy, it could begin to lose jobs again in 2014.
In an ongoing effort to create growth for mom and pop businesses in the state, the U.S. Small Business Administration is making capital available to Connecticut Economic Development Fund, a non-profit offering micro-loans. WNPR’s Sujata Srinivasan has more.
James Dufour owns Connecticut Carpentry in Meriden. He makes cabinets for hospitals and employs seven people. Up until the start of the financial crisis, the nearly 30-year-old business had little trouble accessing bank loans.
We give billions to charity every year, but are we actually solving the world’s problems? When we look at the programs meant to fight global poverty and disease, we tend to see two poles...either we just need more money thrown into the aid programs we now have, or we realize that all these billions are just going down the drain.
More details are slowly emerging about the Connecticut-based financial expert that Warren Buffett has chosen to oversee investments at Berkshire Hathaway. The billionaire has been trying to arrange succession planning at the company after his five decades in charge.
A prominent UConn law professor has been tapped to advise the new Consumer Financial Protection Bureau, founded under the Dodd-Frank financial reform act. Patricia McCoy will be working on mortgages. McCoy is the director of UConn law school’s Insurance Law Center and an expert on consumer finance issues. She’s been a prominent commentator on the foreclosure crisis, and an advocate of protecting the rights of homeowners who were the victims of predatory lending.