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Legal Bills Wipe out JPMorgan Chase’s Profits

[Lady Justice]

-JvL-

Legal Bills Wipe out JPMorgan Chase’s Profits (Fox Business)

For the first time under the tenure of long-time CEO Jamie Dimon, JPMorgan Chase posted a loss in the third quarter. While earnings were in line with Wall Street’s estimate, the firm had $9.2 billion in legal expenses. JPMorgan Chase anticipates additional legal costs stemming from federal and state probes on multiple regulatory fronts; therefore, the bank has set aside an additional $13.8 billion for settlements, fines and other legal expenses.

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