Sign in to comment!


Crime & Courts

Mueller confirms preliminary probe of JPMorgan

FBI Director Robert Mueller said Wednesday the bureau has launched a preliminary investigation of JPMorgan Chase & Co. following a $2 billion trading loss at the bank.

Mueller's comment at a Senate Judiciary Committee hearing was the first on-the-record confirmation of the probe.

On Tuesday, a law enforcement official said that the FBI's New York office is heading an inquiry into the JPMorgan loss.

"All I can say is we've opened up a preliminary investigation," Mueller told the Senate panel. Mueller said that opening a preliminary investigation "depends on a number of factors," which he did not enumerate.

Under attorney general guidelines for FBI operations, a preliminary investigation may be initiated on the basis of any allegation or information indicative of possible criminal activity. Time limits are set for completion of preliminary investigations — usually six months, although six-month extensions can be granted. Extensions of preliminary investigations beyond a year must be approved by FBI headquarters.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 3.92% -- 3.92%  
15 Y Fixed Graph 2.99% up 2.98%  
30 Y Fixed Jumbo Graph 4.31% up 4.24%  
5/1 ARM Graph 3.26% up 3.12%  
5/1 Jumbo ARM Graph 3.84% dw 3.85%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.68% up 4.62%  
$50K HELOC Graph 4.10% up 4.04%  
$30K Loan Graph 4.47% dw 4.48%  
$50K Loan Graph 4.12% up 4.11%  
$75K Loan Graph 4.12% up 4.11%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.99% dw 3.23%  
36 M Used Graph 3.18% dw 3.33%  
48 M New Graph 3.22% dw 3.32%  
48 M Used Graph 2.72% dw 2.90%  
60 M New Graph 3.33% up 3.31%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.35% up 0.34%  
1 yr Graph 0.62% -- 0.62%  
5 yr Graph 1.41% up 1.39%