Reuters – JPMorgan Chase & Co. posted a 7.3 percent decline in quarterly profit on Tuesday [Jan. 14], as legal woes and weak demand for investment banking services capped off a tough year for Chief Executive Jamie Dimon.
The largest U.S. bank had $1.1 billion of legal expenses in the fourth quarter, about $850 million of which was linked to a recent settlement for failing to report its suspicions of fraud at its client Bernard Madoff’s fund.
