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Mortgage banks foreclosing on homes in the U.S. are being accused of mishandling foreclosure proceedings. Banks may even have foreclosed on homes they no longer owned. To avoid legal responsibility, banks are calling off or postponing foreclosures.

In an interview, MasterCard Inc.'s next chief executive officer, Ajay Banga, discusses how his company's growth and revenue may be affected by new credit card legislation, and by tighter consumer credit and expenditures.

J.P. Morgan Chase & Co.'s first-quarter profit soared 55% to $3.33 billion from $2.14 billion a year ago. Revenue rose 5% to $28.17 billion. Loss provisions in all the bank's businesses dropped 30% to $7 billion.

J.P. Morgan Chase & Co.'s fourth-quarter profit soared to $3.28 billion from $702 million a year ago. Revenue rose 32% to $25.24 billion. The financial company's retail-banking operations swung to a net loss of $400 million, but the investment-banking unit reported earnings of $1.9 billion compared to a net loss of $2.4 billion a year ago.

Beginning in 2010, when the U.S. Federal Deposit Insurance Corp. sells a seized bank to another bank, it will ask the purchaser to make additional payments if the purchaser's shares soar in value because of the acquisition. The measure is intended to replenish the FDIC's deposit-insurance fund which was depleted during the banking crisis.

Spain's Banco Bilbao Vizcaya Argentaria S.A. (BBVA) is expected to announce the acquisition at auction of Guaranty Financial Group Inc., which is on the brink of collapse and will be seized by the U.S. government before being handed over to BBVA. Guaranty's recently-reported $1.45 billion in write-downs related to its mortgage-backed investments left the bank critically under-capitalized and unable to continue operations.

J.P. Morgan Chase & Co. reports a 36% second-quarter profit increase to $2.7 billion from $2 billion a year earlier, and a 39% increase in revenue to a record $27.7 billion. Non-performing assets rose from $6.2 billion to $17.5 billion. J.P. Morgan has nearly $30 billion in credit-loss reserves after adding $1.8 billion this quarter.

In a bid to slash $800 million in costs this year, American Express Co. will forge ahead with its second round of layoffs, eliminating an additional 4,000 jobs on top of the 7,000 job cuts announced in October. AmEx wrote off 8.5% of its loans in its fiscal first quarter.

Byline: ROBIN SIDEL FINANCIAL SERVICES Debit cards the big winner in new era of U.S. thrift Brad Sagara uses a debit card to buy everything from groceries to climbing gear [...]

Byline: ROBIN SIDEL AND MARSHALL ECKBLAD FINANCIAL SERVICES Washington, industry in step on stress tests The criteria that the U.S. government is using to assess the financial health of the [...]

Bogged down by losses in its consumer-credit unit, J.P. Morgan Chase & Co. reports a first-quarter 10% drop in net income to $2.1 billion. Revenue rose 48% to $25.03 billion. The bank increased its reserves to cover bad loans by $4.2 billion to $27.4 billion, and seeks to start repaying the $25 billion it received in aid from the U.S. federal government. J.P. Morgan's shares rose 2.1% to $33.24 in composite trading at the New York Stock Exchange.

Byline: ROBIN SIDEL REGULATION: TARP CONDITIONS Bailed out U.S. banks post foreign talent to overseas branches Some big U.S. banks that have received billions of dollars from the government are [...]

Byline: KATE KELLY AND ROBIN SIDEL Goldman Sachs Group Inc. said it is determined to repay the $10-billion (U.S.) it got from the federal government as soon as possible, a [...]

Byline: ROBIN SIDEL Investors who said they lost money to Bernard Madoff are taking aim at the big banks that played administrative roles in their investments. HSBC Holdings PLC, UBS [...]

A 10% drop in customer expenditures caused American Express Co.'s fourth-quarter net income to plummet 79% to $172 million, and its revenue to fall 11% to $6.51 billion. The credit card company reduced the funds to cover delinquencies and write-offs to $1.4 billion from $1.5 billion a year earlier. Article discusses AmEx's share value, and revenue by corporate division.

J.P. Morgan Chase & Co. posts a 76% fourth-quarter net income drop to $702 million, and its finances are expected to deteriorate further in 2009 along with those of other banks. J.P. Morgan's shares dropped 6.06% to $24.34. In related news, bank Marshall & Ilsley Corp. reported losses of $404 on Thursday. Its shares fell 26% to $7.93 in Thursday trading.

Byline: DAVID ENRICH; Aaron Lucchetti and Robin Sidel contributed to this article. Citigroup Inc. is expected to report fourth-quarter losses that are billions of dollars greater than previously anticipated, but [...]

Byline: MARSHALL ECKBLAD AND DAVID ENRICH; Robin Sidel contributed to this article. Shares in Citigroup Inc. rose for a third consecutive session yesterday, even as other bank stocks fell, after [...]

Byline: DAN FITZPATRICK AND ROBIN SIDEL ATLANTA and NEW YORK -- United Financial Bancorp Inc. has lots of capital, no subprime loans and profit that jumped 83 per cent in [...]

Byline: MICHAEL R. CRITTENDEN AND ROBIN SIDEL; WALL STREET JOURNAL STAFF WASHINGTON -- Treasury Department officials and the banking industry are mulling ways to expand the government's financial rescue plan [...]

In a move to increase its operations within the U.S. market, Spain's Banco Santander S.A. is negotiating the acquisition of Sovereign Bancorp Inc. for an estimated $3.81 per share in a deal valued at $2.53 billion. Sovereign has $79 billion in assets and 750 branches throughout the U.S.

Byline: ROBIN SIDEL Big banks that want more capital usually turn to institutional investors, private-equity firms and sovereign-wealth funds. Some small U.S. banks are going door-to-door in their hometowns. John [...]

In a deal brokered by the U.S. government, J.P. Morgan Chase & Co. will acquire bank Washington Mutual Inc. for $1.9 billion. J.P. Morgan raised capital by selling $10 billion in common stock sending its share value up 11% or $4.78 to close at $48.24 on the New York Stock Exchange on Friday. The company plans to write down $31 billion from its acquisition of Washington Mutual whose shares dropped 90% or $1.53 to 16 cents. The combined company will be the largest bank in the U.S. by deposits with $911 billion under management. Article discusses the integration of both banks, and the effects on consumers and investors of J.P. Morgan's recent acquisition of collapsed banks Washington Mutual and Bear Stearns.

Wachovia Corp. is seeking to reduce its market exposure and improve its access to capital by discussing its possible acquisition with prospective bidders Wells Fargo & Co., Banco Santander S.A., and Citigroup Inc. Washington Mutual Inc.'s takeover by the U.S. government on Thursday rattled financial stocks causing Wachovia's shares to drop 27% on Friday. Article discusses banking corporations' recent mergers, failures, bailouts, stock price, financial standing, and recovery prospects.

Byline: Robin Sidel and David Enrich JPMorgan Chase & Co. was expected to announce as early as last night a deal to acquire the bulk of Washington Mutual Inc.'s operations [...]

Byline: ROBIN SIDEL, DAVID ENRICH AND DAN FITZPATRICK; Wall Street Journal In what is by far the largest bank failure in U.S. history, federal regulators seized Washington Mutual Inc. and [...]

Byline: ROBIN SIDEL, PETER LATTMAN AND DANIEL FITZPATRICK; WALL STREET JOURNAL STAFF; David Enrich contributed to this article. Washington Mutual Inc. is accelerating efforts to raise more capital or potentially [...]

Byline: ROBIN SIDEL AND DAMIAN PALETTA The latest U.S. bank failures as the industry slogs through its worst crisis in a generation are showing the consequences of frenetic expansion that [...]

Falling short of Wall Street expectations, American Express Co. reports a 38% net profit drop to $653 million for its second quarter - earnings of 56 cents per share. The company's revenue increased 8% to $7.48 billion.

Byline: DAVID ENRICH, ROBIN SIDEL AND PETER LATTMAN After weeks of searching for a way to ease the financial distress caused by the mortgage rout, National City Corp. was closing [...]

Because of shareholder opposition, J.P. Morgan Chase & Co. quintuples its bid to acquire financially-troubled investment bank Bear Stearns Cos. Morgan Chase is offering $10 per share in a deal worth $1.2 billion. Article discusses ongoing negotiations, possible acceptance of the offer, and government intervention in the acquisition.

Faced with either bankruptcy or a forced sale, investment bank Bear Stearns Cos. agrees to be sold to J.P. Morgan Chase & Co. at the price of $2 a share in a deal worth around $236 million. Article discusses the ailing mortgage-backed securities sector and capital markets, and the Federal Reserve Board's efforts to lessen their impact on securities firms and investment banks.

Byline: ROBIN SIDEL James Dimon, chairman and chief executive officer of JPMorgan Chase & Co., is quickly becoming Wall Street's banker of last resort. A decade after Mr. Dimon's career [...]

Byline: ROBIN SIDEL, DENNIS K. BERMAN AND KATE KELLY; WALL STREET JOURNAL STAFF JPMorgan Chase & Co., urged on by the U.S. federal government, agreed to buy Bear Stearns & [...]

Byline: ROBIN SIDEL; Kate Kelly, Valerie Bauerlein and Dennis K. Berman contributed to this article It's time to pounce for JPMorgan Chase & Co. chief executive officer James Dimon and [...]

Byline: ROBIN SIDEL JPMorgan Chase & Co. is putting its money to work. After years of watching rival Wall Street firms plow their own cash into principal investments, the United [...]

Byline: ROBIN SIDEL AND MONICA LANGLEY; WALL STREET JOURNAL STAFF Charles Prince, the beleaguered chief executive officer of Citigroup Inc., is planning to resign at a board meeting tomorrow, according [...]

UK regulatory filings have revealed how structured investment vehicles (SIVs) generate significantly high profits for investors and the companies and banks that create them. The current credit crisis has prompted Citigroup Inc. and other banks to seek funds for rescue packages for existent SIVs.

Byline: CARRICK MOLLENKAMP, IAN McDONALD AND ROBIN SIDEL As Citigroup Inc. and other big U.S. banks seek to raise as much as $100-billion (U.S.) for a rescue package for a [...]

The structured investment vehicle (SIV) market, launched by UK firm Gordian Knot Ltd., is facing a possible economic and financial crisis. Industry observers fear that large SIVs will have to unload mortgage-backed securities and other assets totaling billions of dollars. The significant negative impact on banks and other financial institutions is discussed.

Toronto Dominion Bank has bought US mid-Atlantic bank Commerce Bancorporation Inc. in a cash-and-stock deal valued at $8.5 bil. Also, Royal Bank of Canada purchased RBTT Financial Group, a Caribbean-based financial services firm, for $2.2 bil after having bought Alabama National Bancorp in September for $1.6 bil, its largest US purchase.

Visa International garnered a contract to sponsor soccer's World Cup, one week after the Federation Internationale de Football Association (FIFA) settled a legal battle with MasterCard Inc. for $90 mil. MasterCard had sponsored the event for the past 16 years. Visa will pay $170 mil for the eight-year contract.

Citigroup Inc. will lay off 17,000 employees as part of a plan to reduce expenses, which increased by 15% last year compared to revenues, which rose 7%. The firm has been under pressure by investors to improve growth.

Citigroup Inc. will announce its restructuring plans later this week and the expectation is that more than 15,000 jobs could be slashed. Analysts are unsure whether these cuts will be enough to generate profits.

Highbridge Capital Management, a subsidiary of J.P. Morgan Chase & Co. of the United States is to merge with the energy unit of the Louis Dreyfus Group of France. The mutual fund group is valued at $17 billion. The new synergy is to be named Louis Dreyfus Highbridge Energy L.L.C.

A New York federal district court judge has ruled that the International Federation of Association Football (FIFA) must give a sponsorship deal for Latin America to MasterC ard International Inc., even though it al ready had a contract with Visa International. FIFA plans to appeal the ruling.

C redit card companies MasterCard Inc. and Visa U.S.A. Inc. are getting tough with merchants in an effort to boost credit card security, in order to prevent credit card fraud and identity theft . Merchants that don't meet security requirements will being fined.

American Express Co. of the United States revenue results were buoyed by strong spending in the second quarter. Net income fell 6.7 percent as a result of last years divestment of its financial-advisory business subsidiary .