Page 15 - Jp Morgan

Win for Wall St dads: Chase to pay $5 mn for parental leave discrimination

Wall Street fathers won a major victory on Thursday, with JPMorgan Chase agreeing to pay USD 5 million to male employees who felt discriminated against over parental leave. The leading US bank in terms of assets reached an agreement with plaintiffs in a class-action lawsuit accusing it of not granting them the same rights as mothers. The complaint covered the period from 2011-207 and was filed jointly by the Ohio branch of the American Civil Liberties Union and the Outten & Golden LLP law firm on behalf of JPMorgan Chase fathers. Derek Rotondo, an employee who became a father, was the first to raise the issue, accusing the bank of not granting him the same parental leave rights provided to female employees. "I love my children, and all I wanted was to spend time with them when they were born," Rotondo said in a statement from the ACLU. "I'm proud that since I filed my charge, Chase has clarified its policy to ensure that both male and female employees who wish to be the primary ..

JPMorgan goes crypto, creates digital coins to transform payments business

The coin can be redeemed for a US dollar, so its value will largely remain stable

Private lenders may have to cede profitability to strengthen deposit base

For investors, the key takeaway is that the days of brisk margin expansion for private banks may be well behind them as they once again chase retail customers to shore up deposits

Brexit pangs: JP Morgan leads $283 billion assets shift to Frankfurt

JPMorgan, Goldman Sachs and Morgan Stanley have all said that they will convert their Frankfurt offices into their EU hubs

Robust economy, bank reforms outdo rupee concerns: JP Morgan CEO

Jamie Dimon, CEO of JP Morgan, feels that reforms are tough across all the countries that have embedded politics and systems. A country having state-owned banks should be very careful.

JP Morgan to set up finclusion lab with IIM-A, Dell, Gates foundations

JP Morgan has committed USD 7 million to a USD 9.5-million fund to set up a financial inclusion lab to support fintech startups in association with IIM-Ahmedabad and the Dell and Bill Gates foundations, the Wall Street powerhouse said today. This is the largest philanthropic commitment to date in any country outside the US, the global banking and financial services provider claimed in a statement, adding the beneficiaries of the lab will typically those startups focused on helping low income households who earning USD 2-10 per day. JP Morgan will provide up to USD 7 million over the next four years towards this initiative. The lab, being set up in collaboration with the IIM-A's Bharat Inclusion Initiative under its Centre for Innovation, Incubation and Entrepreneurship, is being set up with additional support from the Michael & Susan Dell Foundation and Bill & Melinda Gates Foundation, and the lab will host accelerator programmes to identify solutions for ...

India may see $460 mn outflows after MSCI rebalancing: JP Morgan

The weight in MSCI EM would drop 14 basis points (bps) to 8.18 per cent after the MSCI rebalance

Being an American abroad is an 'embarrassment': JPMorgan CEO

He says, there would be much stronger growth if there were more intelligent decisions