JPMorgan pegs legal costs as top banking lawyer leaves

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JPMorgan on Monday pegged its possible legal costs in excess of litigation reserves at $4.6bn at the end of June, up from $4.5bn at the end of March.

Reuters reports that the company also disclosed that it is responding to questions from trustees offices of U.S. bankruptcy courts about notices on mortgage payment changes and escrow statements in bankruptcy proceedings.

Meanwhile, Matthew Biben, general counsel for JPMorgan’s retail-banking operations, has left after three years at the firm, a person with knowledge of the move said.

Bloomberg News reports that Jill Centella, global litigation head for the lender, was named acting general counsel for consumer and community banking in June, said the person, who requested anonymity because the information hasn’t been made public.

JPMorgan updates disclosures of legal risks

JPMorgan’s Top Retail Banking Lawyer Biben Said to Depart

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