The state attorney general asserted that fraudulent use of the tracking system allowed Bank of America, Wells Fargo and JPMorgan Chase to avoid the need for recording mortgage transfers.

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New York Suing 3 Banks Over Mortgage Database

Massachusetts is suing five major banks, including Bank of America and JPMorgan Chase, over deceptive foreclosure practices.

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Major Banks Face New Foreclosure Suit

Wall Street giant JP Morgan Chase sees a rise in first-quarter profits, helped by an improvement in its credit card business.

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JP Morgan sees profits increase

Publishing giant Condé Nast was a victim of a not-too-sophisticated phishing operation, sending $8 million over six weeks to a man posing as one of their regular suppliers. When we think of people who fall victim to this kind of scam, we tend to think of naive individuals, but this story goes to show that you even corporate accountants can be duped with the right mix of chutzpah and tech savvy. According to the court document, last November Condé Nast’s accounts payable department received an e-mail ( PDF ) that purported to come from Quad/Graphics , the company that prints Condé Nast magazines. The e-mail instructed Condé Nast to send payments for its Quad/Graphics account to a bank account number provided in the e-mail, and included an electronic payments authorization form. The e-mail indicated the account was for Quad Graph, a name similar to the real printer’s name. Someone at Condé Nast apparently signed the form and sent it back to a fax number listed in the e-mail, then began making electronic transfer payments to the bank account specified by the scammer. Between Nov. 17 and Dec. 30, the company wired $8 million to the Quad Graph account before a query around Dec. 30 from the real printer, Quad/Graphics, asking about outstanding bills, prompted Condé Nast to investigate the matter. The company was apparently able to reverse at least one transfer of about $36,000 back to its JPMorgan Chase account, though the court document doesn’t indicate when that occurred. Read the full story at Ars Technica .

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Condé Nast Accidentally Sent $8 Million to Scammer

Juan Gomez’s American Dream is so close, he has held it in his hands: an envelope containing a job offer from J.P. Morgan Chase in New York.

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Georgetown student faces a step up or a boot out

JPMorgan Chase is seeking to buy a minority stake in Twitter that could value the site at close to $4.5 billion.

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DealBook: JPMorgan Fund Seeks Minority Stake in Twitter

Everyone wants a piece of Twitter: Finance giant J.P. Morgan Chase & Co. is reportedly in talks to take a minority stake in the social-networking favorite in a deal that would send Twitter’s valuation up to more than $4 billion. The investment, the…

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J.P. Morgan Eyes Twitter Stake

Forcing eurozone countries to restructure their debt would be “far too risky”, the head of US bank JP Morgan Chase warns.

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JP Morgan boss warns of debt risk

JP Morgan Chase reports a 47% jump in fourth-quarter net income, helped by narrowing losses on bad loans.

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JP Morgan reports 47% profit jump

American financial markets across the board rallied Wednesday, finishing at multi-year highs. Led by jumps in JPMorgan Chase stock, the Dow added 83 points to close at its highest level since September 2008. The S&P 500 added 11 points and the…

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Stocks Finish at Multi-Year Highs

Two thousand seven hundred twenty-two days after U.S. troops crossed the Kuwaiti border into Iraq, U.S. combat operations there officially ended. The U.S.-led war in Afghanistan turned older than the Soviet Union’s 3,339-day campaign in the country. Twenty-one percent of young veterans of the wars in Iraq and Afghanistan were unemployed, Iraqi government officials said that some 58,000 stray dogs in Baghdad had been poisoned or shot, and Target, a dog rescued from Afghanistan after she alerted troops to a suicide bomber and saved dozens of soldiers, was accidentally euthanized. The Supreme Court upheld the right to record women crushing small animals with their feet and overturned two precedents to rule that the government cannot ban corporations from spending money in political elections. The U.S. House and Senate finalized a watered-down, 2,000-page financial-reform bill. “Not to be funny about it,” JPMorgan Chase CEO Jamie Dimon told the FCIC, “but my daughter asked me… ‘What’s the financial crisis,’ and I said, ‘Well, it’s something that happens every five to seven years.’” The Texas State Board of Education voted to revise its social-studies curriculum, mandating that the U.S. government should not be called “democratic,” and Republicans took control of the House. A Virginia judge voided the provision in Obama’s health-care law requiring most Americans to obtain health insurance. A Texas newborn with a heart defect was denied health insurance because of his pre-existing condition. “It would be hard to argue that we’re going backwards,” said Obama. “I think what you can argue is we’re stuck in neutral.” . . .

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Yearly Review

This has to be cold comfort for the thousands of people wronged by Ponzi schemer Bernard Madoff. Court documents reveal that two months prior to Madoff’s arrest for fraud, JP Morgan Chase suspected the investment banker of wrongdoing, but the bank…

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JP Morgan Chase Suspected Madoff

With some adaptive technology, Ashish Goyal works on the trading floor in London for JPMorgan Chase, despite having been blind since the age of 22.

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DealBook: Managing Risk for JPMorgan, and Blindness

During the financial crisis, the C.E.O. of JPMorgan Chase outshone his rivals. But where exactly does that leave him now?

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Jamie Dimon: America’s Least-Hated Banker

Banks like JPMorgan Chase offer to help big investors like pension funds earn a little extra. When it works, both win. When it doesn’t, only the client loses.

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House Advantage: Banks Shared Clients’ Profits, but Not Losses