UPDATE 1-JPMorgan warns on costs related to US regulation

05/11/2010

UPDATE 1-JPMorgan warns on costs related to US regulation

* JPMorgan not yet calculated costs of British bonus tax

Elinor Comlay, Reuters, May 10, 2010

* BofA sees $465 mln in charges from British bonus tax

NEW YORK (Reuters) - U.S. financial regulation changes could limit JPMorgan Chase & Co's (JPM.N) business and increase costs, the bank warned in a quarterly filing with regulators on Monday.

The New York-based bank also cautioned that a further pickup in unemployment and a drop in U.S. house prices remains possible, and this could hurt JPMorgan's large consumer lending businesses, according to the filing.

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Posted at 09:50 AM in Current Affairs, JP Morgan Chase | Permalink

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05/11/2010