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NEW YORK (AP) — JPMorgan Chase agreed Tuesday to pay $75 million to the U.S. Virgin Islands to settle claims that the bank enabled the sex trafficking acts committed by financier Jeffrey Epstein. JPMorgan said that $55 million of the settlement will go toward local charities and assistance for victims. The Virgin Islands, where Epstein had an estate, sued JPMorgan last year, saying its investigation has revealed that the financial services giant enabled Epstein’s recruiters to pay victims and was “indispensable to the operation and concealment of the Epstein trafficking enterprise." JPMorgan sued Staley earlier this year, alleging that he covered up or minimized Epstein's wrongdoing in order to maintain the lucrative account. JPMorgan had already agreed to pay $290 million in June in a class-action lawsuit that involved victims of Epstein's trafficking crimes.

Persons: JPMorgan Chase, Jeffrey Epstein, Epstein, James “ Jes ” Staley, Staley, Dánica Coto Organizations: JPMorgan, U.S . Virgin, Virgin, ___ Associated Press Locations: U.S, San Juan , Puerto Rico

JPMorgan said its $75 million settlement with the USVI includes $30 million to support charitable organizations, $25 million to strengthen law enforcement to combat human trafficking, and $20 million for attorney's fees. Epstein died in August 2019 in a Manhattan jail cell while awaiting trial for sex trafficking. INTERNAL WARNINGSIn July, USVI said it wanted JPMorgan to pay at least $190 million, including a $150 million civil fine, and possibly much more to resolve the lawsuit. Deutsche Bank (DBKGn.DE), where Epstein was a client from 2013 to 2018, in May reached a $75 million settlement with women who said Epstein sexually abused them. Staley has expressed regret for his friendship with Epstein and denied knowing about his sex trafficking.

Persons: Caitlin Ochs, JPMorgan Chase, Jes Staley, Jeffrey Epstein, Epstein, Staley, Ariel Smith, USVI, JPMorgan, Jamie Dimon, Dimon, Nupur Anand, Lananh Nguyen, Jonathan Stempel, Muralikumar Anantharaman, Daniel Wallis 私 Organizations: JPMorgan Chase Bank, REUTERS, JPMorgan, U.S . Virgin, Deutsche Bank, Barclays Locations: New York City, U.S, Manhattan, York, New York

☆ JPMorgan Settles Epstein Suits With U.S. Virgin Islands and James Staley
▼ + stars: | 2023-09-26 | by ( Matthew Goldstein | More About Matthew Goldstein | ) www.nytimes.com time to read: +1 min

The U.S. Virgin Islands sued JPMorgan in December, and about a month later, lawyers for Mr. Epstein’s victims had sued the bank. The money the bank is paying to the Virgin Islands, where Mr. Epstein had a private island residence for roughly two decades, will mostly go toward funding charitable causes in the U.S. territory in the Caribbean and paying lawyer fees. Mr. Epstein killed himself in a federal jail in Manhattan in August 2019, a month after he had was arrested on federal sex trafficking charges. Mr. Epstein had been a client of JPMorgan both before and after he pleaded guilty in 2008 to a charge of soliciting prostitution from a teenage girl and had to register as a sex offender in New York, Florida and the Virgin Islands. The parties, however, took issue with how each side had characterized some of the terms of the settlement in their respective news releases.

Persons: Epstein Organizations: U.S . Virgin Islands, JPMorgan Locations: U.S, Caribbean, Manhattan, New York , Florida, Virgin

DES MOINES, Iowa (AP) — The ninth-largest lottery jackpot will be on the line Monday night when numbers are drawn for a $785 million Powerball prize. That winless streak is due to the miserable odds of winning the Powerball jackpot, at 1 in 292.2 million. The biggest jackpot was a $2.04 billion Powerball prize won in November 2022 in California. Although the game highlights the $785 million prize, that is for a winner who is paid through an annuity over 30 years. Political Cartoons View All 1176 ImagesThe giant jackpot would also be subject to federal taxes, and some states also tax lottery winnings.

Persons: — Organizations: DES, D.C, U.S . Locations: DES MOINES, Iowa, California, Washington, Puerto Rico, U.S, U.S . Virgin Islands

☆ JPMorgan legal fees in Jeffrey Epstein sex traffic cases near $14 million, former exec reveals
▼ + stars: | 2023-09-21 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +1 min

Attorneys for former JPMorgan executive Jes Staley revealed the fee total in a filing late Wednesday in U.S. District Court in Manhattan. On Thursday, his lawyers filed a new version of the document that redacted the reference to the bank's legal fees. JP Morgan spokeswoman Patricia Wexler declined to comment on the bank's purported legal costs from the suit. JPMorgan was sued last year by "Doe" in a would-be class action case on behalf of herself and other young women who were trafficked by the late money manager Epstein. The bank separately was sued by the government of the U.S. Virgin Islands, where Epstein had maintained a residence on a private island, where he sexually abused women.

Persons: JPMorgan Chase, Jeffrey Epstein, Jes Staley, JPMorgan's, Staley, Epstein, Morgan, Patricia Wexler, Wexler, Jane Doe, Doe Organizations: JPMorgan, CNBC, U.S . Locations: Manhattan, U.S, U.S . Virgin Islands

BAR HARBOR, Maine (AP) — Millions of people were under storm watches and warnings Saturday as Hurricane Lee churned toward shore, bearing down on New England and eastern Canada with heavy winds, high seas and rain. Train, who is also a firefighter, was going to wait out the storm on the island in Casco Bay. The Great New England Hurricane of 1938 brought gusts as high as 186 mph (300 kph) and sustained winds of 121 mph (195 kph) at Massachusetts’ Blue Hill Observatory. The region learned the hard way with Hurricane Irene in 2011 that damage isn’t always confined to the coast. Downgraded to a tropical storm, Irene still caused more than $800 million in damage in Vermont.

Persons: Lee, Louise Fode, New Englanders, There’s, Bruce Young, it’s, Steve Train, Ian Hubbard, Lee won’t, Hurricane Fiona, Kyle Leavitt, Hurricane Irene, Irene, ___ Sharp, Whittle, Rob Gillies Organizations: BAR, National Hurricane Center, U.S ., National Weather Service, Canadian Hurricane Centre, New, New Brunswick Emergency Management Organization, Portland . Associated Press Locations: Maine, New England, Canada, Portland , Maine, Bar Harbor, Tennessee, Lee, England, Canadian, of Nova Scotia, New Brunswick, Massachusetts, U.S, U.S . Virgin Islands, Bahamas, Bermuda, New, Long, Casco Bay, Hurricane, Vermont, Portland, Toronto

☆ US jobless aid programs bilked of up to $135 bln during COVID, watchdog says
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +3 min

At the high end, that would equal about $1 of every $7 paid in aid over that time. "The full extent of UI fraud during the pandemic will likely never be known with certainty," the GAO report summary said. After several extensions, the PUA - which provided benefits to jobless individuals who would not typically have been eligible for them - expired in September 2021. Fraudulent claims activity has periodically distorted the data reported weekly by the Labor Department, befuddling economists who count on the data for gauging the wherewithal of the job market. Another short-lived increase in new claims in August was seen by some economists as related to an increase in fraudulent claims activity in Ohio.

Persons: Brent Parton, Dan Burns, Leslie Adler Organizations: REUTERS, Labor Department, of Columbia, U.S ., The Labor Department, Relief, Economic Security, Department, Thomson Locations: Manhattan, New York City , New York, U.S, of Columbia , Puerto Rico, U.S . Virgin, Massachusetts, Ohio

☆ US Jobless Aid Programs Bilked of up to $135 Billion During COVID, Watchdog Says
▼ + stars: | 2023-09-12 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +3 min

(Reuters) - Up to $135 billion of jobless benefits paid out by U.S. states during the coronavirus pandemic may have arisen from fraudulent claims, Washington's top government watchdog said on Tuesday in a report suggesting the problem is much bigger than previously estimated. But a new General Accountability Office report estimates the problem is much bigger: Between $100 billion and $135 billion of the roughly $900 billion in jobless benefits payouts from April 2020 through May 2023 may have been fraudulent. At the high end, that would equal about $1 of every $7 paid in aid over that time. "The full extent of UI fraud during the pandemic will likely never be known with certainty," the GAO report summary said. Another short-lived increase in new claims in August was seen by some economists as related to an increase in fraudulent claims activity in Ohio.

Persons: Brent Parton, Dan Burns, Leslie Adler Organizations: Reuters, Labor Department, of Columbia, U.S ., The Labor Department, Relief, Economic Security, Department Locations: U.S, of Columbia , Puerto Rico, U.S . Virgin, Massachusetts, Ohio

☆ Hurricane Lee to bring dangerous surf conditions to U.S. East Coast
▼ + stars: | 2023-09-10 | by ( ) www.reuters.com time to read: +1 min

A composite image shows Hurricane Lee churning towards the Caribbean after intensifying into a major storm, September 8, 2023. National Oceanic and Atmospheric Administration (NOAA)/Handout REUTERS Acquire Licensing RightsSept 10 (Reuters) - Hurricane Lee was churning west-northwest in the tropical Atlantic Ocean and was expected to bring dangerous surf and rip currents to the U.S. East Coast from Sunday night into next week, the U.S. National Hurricane Center said. The storm, about 270 miles (535 km) northeast of the northern Leeward Islands, should pass north of Puerto Rico, the U.S. Virgin Islands and other Caribbean islands. Swells were affecting portions of the British and U.S. Virgin Islands, Puerto Rico, Hispaniola, Turks and Caicos, the Bahamas and Bermuda. The National Weather Service's office in Puerto Rico forecast waves of 6 to 10 feet, possibly higher, in some coastal areas.

Persons: Lee, Handout, Kelly Herrera, Herrera, Maria Caspani, Cynthia Osterman Organizations: Oceanic, Atmospheric Administration, Handout REUTERS, U.S ., U.S, National Hurricane Center, U.S . Virgin, British, Vanderbilt, Thomson Locations: U.S . East Coast, Leeward, Puerto Rico, U.S, U.S . Virgin Islands, U.S . Virgin Islands , Puerto Rico, Hispaniola, Turks, Caicos, Bahamas, Bermuda, Puerto Rico's, San Juan, San Juan's

☆ Hurricane Lee weakens to a Category 3 but still forecast to be powerful into next week
▼ + stars: | 2023-09-09 | by ( ) www.cnbc.com time to read: +2 min

In this NOAA image taken by the GOES satellite, Hurricane Lee crosses the Atlantic Ocean as it moves west on September 8, 2023. Hurricane Lee weakened to a Category 3 hurricane Friday evening, one day after it exploded from a Category 1 to a dangerous Category 5, but is still forecast to remain a powerful storm into next week. On Friday, the storm weakened gradually from its status as a Category 5 in the early morning, eventually down to a Category 3, still remaining a major hurricane. "Fluctuations in intensity are likely over the next few days, however Lee is expected to remain a powerful hurricane through early next week," the advisory said. Lee will bring high surf and dangerous rip currents to the U.S. East Coast as early as Sunday, and could worsen through the week.

Persons: Hurricane Lee, Lee Organizations: Hurricane, National Hurricane Center, Virgin Islands, Lesser, British, U.S . Locations: Leeward, Leeward Islands, Puerto Rico, U.S, U.S . Virgin Islands , Puerto Rico, Hispaniola, Turks, Caicos Islands, Bahamas, Bermuda, U.S . East Coast

☆ Hurricane Lee expected to move north of Puerto Rico but still dangerous
▼ + stars: | 2023-09-09 | by ( ) www.reuters.com time to read: +2 min

A composite image shows Hurricane Lee churning towards the Caribbean after intensifying into a major storm, September 8, 2023. Acquire Licensing RightsWASHINGTON, Sept 9 (Reuters) - Hurricane Lee, a powerful Category 3 storm, was expected to move well north of Puerto Rico and the U.S. Virgin Islands this weekend but could cause dangerous beach conditions on the U.S. East Coast beginning on Sunday, the U.S. National Hurricane Center said on Saturday. "Dangerous surf and rip currents are expected to begin along most of the U.S. East Coast Sunday and Monday and worsen through the week," the forecaster said. Lee had intensified into a dangerous Category 5 storm earlier in the week, the highest step on the Saffir-Simpson wind scale, before downgrading into a Category 3 hurricane. "Fluctuations in intensity are likely over thenext few days, however Lee is expected to remain a powerful hurricane through early next week," it said.

Persons: Lee, Hurricane Lee, Eric Beech, Timothy Gardner, Diane Craft Organizations: Oceanic, Atmospheric Administration, REUTERS, Acquire, Rights, U.S . Virgin, U.S . East, U.S, National Hurricane Center, U.S ., U.S . East Coast Sunday, National Weather Service, Thomson Locations: Puerto Rico, U.S, U.S . East Coast, Leeward, Atlantic Canada, Bermuda

☆ Category 4 Hurricane Lee 'rapidly strengthening' across Caribbean
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +1 min

Sept 7 (Reuters) - Hurricane Lee has intensified to a Category 4 storm and is "rapidly strengthening" as it churns through the Caribbean on Thursday, the U.S. National Hurricane Center reported. In Puerto Rico and the U.S. Virgin Islands, the Federal Emergency Management Agency (FEMA) has pre-deployed assets and is coordinating with local officials ahead of the storm, the Biden administration said. The hurricane was packing winds up to 130 mph (215 kph) by 5 p.m. Atlantic Standard Time (2100 GMT) on Thursday, and additional strengthening was expected at night, the Miami-based hurricane center said. Lee is expected to remain powerful through the next several days, the NHC added. Reporting by Kylie Madry; Additional reporting by Jeff Mason and Aurora Ellis; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Lee, Biden, Kylie Madry, Jeff Mason, Aurora Ellis, Jonathan Oatis Organizations: U.S, National Hurricane Center, U.S ., Federal Emergency Management Agency, FEMA, British, NHC, Thomson Locations: Caribbean, Puerto Rico, U.S, U.S . Virgin Islands, Miami, Lesser, U.S . Virgin Islands , Puerto Rico, Hispaniola, Bahamas, Bermuda

☆ Lee to Become 'Major Hurricane' Over Weekend as It Chugs Across Caribbean
▼ + stars: | 2023-09-07 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +1 min

(Reuters) - Hurricane Lee, a Category 2 storm, was "rapidly strengthening" as it churned through the Caribbean on Thursday, the U.S.-based National Hurricane Center (NHC) reported. In Puerto Rico and the U.S. Virgin Islands, the Federal Emergency Management Agency (FEMA) has pre-deployed assets and is coordinating with local officials ahead of the storm, the Biden administration said. However, the hurricane is likely to miss Puerto Rico and the Virgin Islands as it moves northwest, the NHC's estimated storm path showed. "The potential for tropical storm conditions to occur in the islands is decreasing, but residents there should continue to monitor updates on Lee," the NHC said. Lee is expected to remain powerful through the next several days, the NHC added.

Persons: Hurricane Lee, Biden, Lee, Kylie Madry, Jeff Mason, Aurora Ellis Organizations: Reuters, Hurricane Center, U.S ., Federal Emergency Management Agency, FEMA, NHC, Puerto Rico, British Locations: Caribbean, U.S, Puerto Rico, U.S . Virgin Islands, Lesser, U.S . Virgin Islands , Puerto Rico, Hispaniola, Bahamas, Bermuda

☆ CNBC Daily Open: Why did the unemployment rate rise even as jobs were added?
▼ + stars: | 2023-09-04 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. However, the unemployment rate jumped from 3.5% last month to 3.8%, the highest since February 2022. Combined with the downwardly revised figures for June and July, those are clear signs the U.S. jobs market is slowing. Winning week for marketsU.S. stocks cheered the moderate jobs report and mostly inched up Friday, giving major indexes their best week in months.

Persons: nonfarm payrolls, Elon Musk, Tesla, JPMorgan Chase, Jeffrey Epstein JPMorgan Chase, Jeffrey Epstein, Epstein, Mimi Liu Organizations: CNBC, U.S, JPMorgan, U.S . Treasury Department, U.S . Virgin Islands, Labor Day Locations: China, Virgin, U.S

☆ USVI says JPMorgan notified Treasury of more than $1 billion in suspicious Jeffrey Epstein transactions after he died: Report
▼ + stars: | 2023-09-01 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

"JPMorgan was a full-service bank for Jeffrey Epstein's sex trafficking," Liu said at the hearing, Bloomberg reported. Epstein, 66, killed himself in a New York jail in August 2019, a month after he was arrested on federal child sex trafficking charges. In addition to a residence in Manhattan, Epstein owned a private island in the Virgin Islands, where he was accused of sexually abusing women. A lawyer for JPMorgan, which denies wrongdoing in the case, pushed back against the Virgin Islands claims that it should be found liable for abetting Epstein's abuse of women. The Virgin Islands is seeking at least $190 million in damages in the case, which will go to trial on Oct. 23 if Rakoff does not grant summary judgment to either side.

Persons: Jeffrey Epstein, Rick Friedman, JPMorgan Chase, Epstein, Mimi Liu, Jed Rakoff, Liu, Jeffrey Epstein's, Epstein's Organizations: Corbis, Getty, JPMorgan, Treasury Department, U.S . Virgin Islands, Daily, Virgin, Bloomberg, Virgin Islands Locations: Cambridge, Virgin, U.S, Manhattan, Florida, New York

☆ JPMorgan processed more than $1 bln for Epstein, US Virgin Islands says
▼ + stars: | 2023-09-01 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +3 min

REUTERS/Caitlin Ochs//File Photo Acquire Licensing RightsNEW YORK, Aug 31 (Reuters) - A lawyer for the U.S. Virgin Islands said on Thursday that JPMorgan Chase (JPM.N) told U.S. authorities it processed more than $1 billion for Jeffrey Epstein over 16 years. The U.S. Virgin Islands, where Epstein owned two private islands, is suing JPMorgan for at least $190 million and likely much more, saying it ignored red flags that Epstein was running a sex trafficking operation because he was a lucrative client. JPMorgan has denied knowing that Epstein was running a sex trafficking operation, and has faulted the territory for having a cozy relationship with him. "JPMorgan was a full service bank for Jeffrey Epstein's sex trafficking," Liu said. Ellsworth also disputed the U.S. Virgin Islands' claim that JPMorgan obstructed investigations into Epstein, saying the bank had asked federal authorities about their own probes into his conduct.

Persons: Caitlin Ochs, U.S . Virgin Islands, JPMorgan Chase, Jeffrey Epstein, Mimi Liu, Epstein, Liu, Jed Rakoff, Jeffrey Epstein's, Felicia Ellsworth, Ellsworth, Rakoff, Rakoff preliminarily, Luc Cohen, Noeleen Walder, Grant McCool Organizations: JPMorgan Chase Bank, REUTERS, U.S . Virgin, JPMorgan, U.S, U.S . Treasury Department, Reuters, Treasury, U.S ., Department, Deutsche Bank, Thomson Locations: New York City, U.S, U.S . Virgin Islands, Manhattan, New York

☆ Fact Check-Bloomberg report did not name Obama as Epstein’s ‘middle man’
▼ + stars: | 2023-08-21 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

A Bloomberg report did not say former U.S. President Barack Obama was late disgraced financier Jeffrey Epstein’s “middle man,” despite online posts that misrepresent the article on revelations from court filings by JPMorgan Chase and the U.S. Virgin Islands. A post on messaging platform X, formerly known as Twitter, said: “BREAKING: President Obama has been named as Jeffrey Epstein’s middle man to JP Morgan according to Bloomberg” (here). Some posts link to an Aug. 16 Bloomberg report with the headline, “Epstein Tapped JPMorgan to Help Goldman Lawyer Open Account” (here). The report mentions a “former Obama White House lawyer,” but it does not name Obama as Epstein’s so-called “middle man” to JPMorgan. A Bloomberg report did not name former U.S. President Barack Obama as Jeffrey Epstein’s “middle man” to JPMorgan.

Persons: Barack Obama, Jeffrey Epstein’s “, JPMorgan Chase, Epstein, Obama, Jeffrey Epstein’s, JP Morgan, Bloomberg ”, “ Epstein, ”, Kathy Ruemmler, Lesley Groff, Epstein’s, Mary Erdoes, ’ ” Erdoes, Michelle, Richard Branson, Read Organizations: Bloomberg, JPMorgan, U.S ., U.S . Virgin Islands, Reuters, Twitter, Facebook, Goldman, Obama White House, White, Free Law Locations: U.S, U.S . Virgin Islands, “, British Virgin

The Manhattan federal court filing detailing her connection to Epstein was filed by the government of the U.S. Virgin Islands, which is suing JPMorgan. On Tuesday, newly unsealed court filings by the bank show that Epstein was asked by former U.S. Virgin Islands Gov. A spokesman for the Virgin Islands' Attorney General's Office told CNBC that Epstein's loan to former Gov. The Virgin Islands spokesman also said that "it was the federal government and not the Virgin Islands government that granted the 'U.S. Epstein was not severed as a JPMorgan client for another two years.

Persons: Kathy Ruemmler, William B, Plowman, NBCUniversal, Jeffrey Epstein, Kathryn Ruemmler, Ruemmler, Goldman Sachs, —, Epstein, JPMorgan, Barack Obama, Leslie Groff, Mary Erdoes, Stacey Friedman, litigator, Latham, Watkins, Nicholas Ribis, Donald Trump, Ribis, Virgin, Jes Staley, John de Jongh Jr, Jongh, de, Cecile, General's, de Jongh, John de Jongh, Erdoes, Bear Stearns, Staley Organizations: White, Washington , D.C, Obama White, JPMorgan Chase, JPMorgan, CNBC, U.S ., Virgin, U.S . Virgin Islands Gov, Southern Trust Company, Virgin Islands, Customs, Border, Gov, Virgin Islands Department of Justice, U.S . Customs Locations: Washington ,, Manhattan, Florida, U.S, U.S . Virgin, Latham, Virgin

☆ JPMorgan, US Virgin Islands trade accusations over Epstein
▼ + stars: | 2023-08-15 | by ( Us Appeals Judge Faults Probe Of Federal Circuit'S Pauline Newman | Andrew Goudsward | Law Firm Clifford Chance Posts Increased Revenue | ) www.reuters.com time to read: +4 min

REUTERS/Mike Acquire Licensing Rights Read moreCompanies JPMorgan Chase & Co FollowNEW YORK, Aug 15 (Reuters) - JPMorgan Chase (JPM.N) and the U.S. Virgin Islands traded new accusations this week in legal filings over their relationships with the late disgraced financier Jeffrey Epstein. The largest U.S. bank detailed how Epstein allegedly funneled hundreds of thousands of dollars in payments and loans to a former U.S. Virgin Islands governor and his wife. The territory in a separate filing cited a 2011 email from a senior JPMorgan executive about suspicious cash withdrawals by Epstein. The filing containing the U.S. Virgin Islands accusations was more than 680 pages. The U.S. Virgin Islands also failed to show that the bank committed obstruction, JPMorgan said.

Persons: JP Morgan Chase, Mike, JPMorgan Chase, Jeffrey Epstein, Epstein, John de Jongh, Cecile, John Duffy, JE, Duffy, Mary Erdoes, “, Erdoes, Jonghs, USVI, JPMorgan, Nupur Anand, Tatiana Bautzer, Lananh Nguyen, David Gregorio Our Organizations: JP, Co, JPMorgan Chase, REUTERS, JPMorgan, U.S . Virgin Islands, U.S . Virgin, Thomson Locations: New York, U.S, Manhattan

Jamie Dimon, chairman of the board and chief executive of JPMorgan Chase & Co., speaks during the event Chase for Business The Experience - Miami hosted by JP Morgan Chase Bank for small business owners at The Wharf in Miami, Florida, U.S., February 8, 2023. REUTERS/Marco Bello/File PhotoNEW YORK, Aug 9 (Reuters) - A federal judge has dismissed a shareholder lawsuit accusing JPMorgan Chase (JPM.N) Chief Executive Jamie Dimon and his board of directors of ignoring red flags surrounding disgraced former client Jeffrey Epstein. The so-called derivative lawsuit sought to have the defendants or their insurers pay damages to JPMorgan, for the benefit of shareholders. Rakoff is also overseeing two Epstein-related lawsuits against JPMorgan by the U.S. Virgin Islands, where the financier owned two neighboring islands, and by Epstein victims. Staley was also Barclays' (BARC.L) chief executive from 2015 to 2021.

Persons: Jamie Dimon, JP, Marco Bello, JPMorgan Chase, Jeffrey Epstein, Jed Rakoff, Rakoff, Epstein, Dimon, Jes Staley, Staley, Jonathan Stempel, Leslie Adler Organizations: JPMorgan Chase &, Chase, Business The, Miami, JP Morgan Chase Bank, REUTERS, JPMorgan, Rakoff, U.S ., Barclays, Miami General Employees & Sanitation Employees, Court, Southern District of, Thomson Locations: Miami , Florida, U.S, Miami, Pittsburgh, Manhattan, U.S . Virgin Islands, U.S . Virgin, Southern District, Southern District of New York, New York

☆ Dimon says Jeffrey Epstein lawsuits have impacted JPMorgan brand, and he is sorry for having him as a client
▼ + stars: | 2023-08-02 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

JPMorgan Chase CEO Jamie Dimon told CNBC on Wednesday that lawsuits against the giant bank related to its former client, the sex offender Jeffrey Epstein, have impacted its brand equity "a little bit." I wish we hadn't," Dimon told CNBC's Leslie Picker. The Virgin Islands accuses JPMorgan of retaining Epstein as a client despite multiple red flags being raised internally about him over the years. "We would never have continued to do business with him if we believed he was engaged in an ongoing sex trafficking operation," Wexler said. Epstein, 66, killed himself in a Manhattan federal jail in August 2019, a month after he was arrested on child sex trafficking charges.

Persons: Jamie Dimon, Jeffrey Epstein, Dimon, CNBC's Leslie Picker, Epstein, Virgin, Patricia Wexler, Wexler Organizations: JPMorgan, CNBC, New, U.S ., Virgin Islands Locations: New York, U.S, U.S . Virgin, Florida, Manhattan

☆ CNBC Daily Open: Oil joined the July stocks rally
▼ + stars: | 2023-08-01 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Hong Kong's Hang Seng Index was near flat as advance estimates showed the city's second-quarter gross domestic product contracting 1.3% quarter on quarter. Pre-tax profit of the largest bank in U.K. jumped 89% year-on-year to $8.77 billion, while revenue surged 38% to $16.71 billion. [PRO] Benefiting from bankruptciesCorporate insolvencies in the U.K. have been rising in recent months.

Persons: Hong, Australia's, Feroze Azeez, Anand, HSBC's, JPMorgan Chase JPMorgan Chase, Jeffrey Epstein, Virgin Organizations: CNBC, India Investors, HSBC, JPMorgan Chase JPMorgan, U.S . Virgin Islands, JPMorgan Locations: Asia, Pacific, India

☆ Divvy Wants to Make Rent-to-Own Deals Easy. Many Customers Find Them Hard.
▼ + stars: | 2023-08-01 | by ( Matthew Goldstein | More About Matthew Goldstein | ) www.nytimes.com time to read: +2 min

“With mortgage rates at all-time highs, our mission is more critical than ever,” Adena Hefets, the chief executive and a founder of Divvy, said in a statement. The higher payments have become a struggle for some customers, especially because of rapid inflation. The company, which charges a 5 percent fee for late payments, said it evicted only as a last resort. This spring, Divvy said, it put in place a new system to prioritize maintenance requests, including a 24-hour hotline for customers. They said they had been referred to Divvy by a real estate broker who worked closely with the company.

Persons: Hefets, Divvy, “, Divvy’s Organizations: Private, U.S . Locations: Atlanta, Georgia, U.S, U.S . Virgin Islands

☆ CNBC Daily Open: July was great for stocks — and oil
▼ + stars: | 2023-08-01 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Europe's regional Stoxx 600 index eked out a 0.12% increase on the back of a dip in inflation and higher-than-expected economic growth in the euro zone. Upbeat euro zone figuresThe euro zone reported positive economic data Monday. CNBC Pro's Bob Pisani explains what drove the S&P to such heights, and where the index is going for the final five months of the year.

Persons: JPMorgan Chase JPMorgan Chase, Jeffrey Epstein, Virgin, Bob Pisani Organizations: CNBC, Federal, JPMorgan Chase JPMorgan, U.S . Virgin Islands, JPMorgan Locations: U.S

☆ More than $1 billion up for grabs in US Mega Millions lottery drawing
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

An electronic message board displays Powerball and Mega Millions lottery jackpots in New York City, New York, U.S., July 17, 2023. REUTERS/Mike Segar/File PhotoAug 1 (Reuters) - An estimated $1.1 billion jackpot is up for grabs in the multistate Mega Millions drawing on Tuesday night, one of the richest jackpots in the lottery's history. The drawing, set for 11 p.m. EDT, is the 30th since the last Mega Millions winner hit the jackpot in April. The odds of winning are minuscule: A buyer of a single Mega Millions lottery ticket has about a 1-in-300 million chance of containing all the correct numbers. Mega Millions tickets are available in 45 U.S. states along with Washington D.C. and the U.S. Virgin Islands.

Persons: Mike Segar, Rich McKay, Gerry Doyle Organizations: Mega, REUTERS, South Carolina, Washington D.C, U.S ., Thomson Locations: New York City , New York, U.S, South, California, U.S . Virgin Islands, Alabama, Alaska, Hawaii , Nevada, Utah, Atlanta

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