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Dimon on why Chase continues its mortgage business
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Banking, Consumer Protection, Corporate Governance, Investor Protections
Tuesday, April 12, 2016
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In his annual letter shareholders, JPMorgan Chase CEO Jamie Dimon explained why the megabank has continued its mortgage business despite “increasingly lower returns.” JPMorgan Chase earned a record $24.4 billion in net income on revenue of $96.6 billion in 2015. Although Chase has reduced its product set, it also has reduced its foreclosure inventory. Read on to learn how.
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