Rochester, NY 7/9/2009 10:12:50 PM
Stock Exchange News - JPM - Bank of America Corp & JPM shift cardholders to fixed variable rates - Sourced WhisperFromWallStreet.com
JP MORGAN CHASE CO
Stock Exchange News - JPM - Bank of America Corp & JPM shift cardholders to fixed variable rates - Sourced WhisperFromWallStreet.com
COMPANY - JP MORGAN CHASE CO,JPM
NEWS - Bank of America Corp and JPMorgan Chase & Co are switching some customers who have fixed-rate credit cards to potentially higher variable rates, acting before a new law takes effect that limits what card issuers can charge.The largest U.S. banks, which are also the largest card issuers, plan to tie more cardholders' rates to the prime rate, a benchmark that is traditionally 3 percentage points above the Federal Reserve's key lending rate, the federal funds rate.
Real-Time: 33.36 Up 0.65 (1.99%) 11:00AM ET
Last Trade: 33.36
Day's Range: 32.87 - 33.40
52wk Range: 14.96 - 50.63
Volume: 12,297,481
ABOUT - JPMorgan Chase & Co., a financial holding company, provides a range of financial services worldwide. It operates in six segments: Investment Bank, Commercial Banking, Treasury & Securities Services, Asset Management, Retail Financial Services, and Card Services. Investment Bank segment provides investment banking products and services, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market-making in cash securities and derivative instruments, and prime brokerage and research. It serves corporations, financial institutions, governments, and institutional investors.
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