Chase Bank
The deal was therefore structured as an acquisition by the Bank of the Manhattan Company of Chase National, with John J. McCloy becoming chairman of the merged entity.[18] It has been reported that the Chase logo was a stylized representation of the primitive water pipes laid by the Manhattan Company,[19] but this story was refuted in 2007 by Ivan Chermayeff himself.[20] According to Chase, the sides of the octagon represent forward motion, while the blank space in the middle suggests progress originates from the center; and is a single unit made up of separate parts, like the bank.The following is an illustration of the company's major mergers and acquisitions and historical predecessors to 1995 (this is not a comprehensive list): The Chemical Bank of New York(est.1933) Louisiana's FirstCommerce Corp. On September 25, 2008, JPMorgan Chase bought most banking operations of Washington Mutual from the receivership of the Federal Deposit Insurance Corporation (FDIC).In the first quarter of 2006, Chase purchased Collegiate Funding Services, a portfolio company of private equity firm Lightyear Capital, for $663 million.[42][43][44] A press release from the National Archives and Records Administration (NARA) in 2004 announced that many of the new Federal Bureau of Investigation (FBI) files had become declassified.Specifically, "The financial houses understood that the German government paid the commissions (to its agents, including Chase) through the sale of discounted, blocked Marks that came mainly from Jews who had fled Germany."[citation needed] Publicly naming the sources and methods could have posed security risks and threatened future intelligence gathering.From the late 1930s until June 14, 1941, when President Franklin D. Roosevelt (FDR) issued an Executive Order freezing German assets, Chase National Bank worked with the Nazi government.The order, which blocked access to French accounts in the U.S. by anyone, especially the Nazis, was issued by Secretary of the Treasury, Henry Morgenthau Jr., with the approval of FDR.Kenneth McCallion, a partner in the New York firm Goodkind Labaton Rudoff & Sucharow,[48] led a lawsuit against Barclays Bank for the illegal seizure of assets during World War Two and has since turned his attention toward Chase.[49][50][51] In May 1999, Chase Manhattan reached a settlement with 20 plaintiffs who filed an asset reparations lawsuit, such as the Claims Conference, a Jewish restitution organization, and the WJC.[52] The settlement subjected Chase to an independent probe of its conduct of activity which occurred from the company's offices in Paris and Châteauneuf-sur-Cher, in southern France, during the World War II-era.[52] The settlement also made possible the company having to eventually a pay modest but symbolically important, payouts to former Chase customers after the probe was completed.[62] Chase canceled the mortgage refinancing process for one individual, that the bank had initiated, whose production company made soft core films like those broadcast on Cinemax.[63] This resulted in a lawsuit[64] which cited evasive dealings and misleading statements by several Chase executives including Securities Vice President Adam Gelcich, Legal Fair Lending Department Vice President Deb Vincent, and an unnamed executive director and assistant general counsel.The bank later reversed its decision and invited Gaines to submit an application citing that was already doing business with a "wide variety of merchants, including grocers and drug stores, that sell similar products".JPMorgan Chase agreed to pay $5 million to compensate their male employees who did not receive the same paid parental leave as women from 2011 to 2017.[71] In December 2017, the bank "clarified its policy to ensure equal access to men and women looking to be their new child's main caregiver".JPMorgan agreed to train and monitor to ensure equal parental leave benefits and stated that "its policy was always intended to be gender-neutral".[73] Chase has faced criticism and protests over its high rate of investment in various fossil fuel industries such as coal, oil, and gas.
JPMorgan ChaseChase Tower (Chicago)Bank of the Manhattan Company BuildingTrade nameSubsidiaryBankingThe Manhattan CompanyJohn ThompsonNew York CityNew YorkUnited StatesJamie DimonchairmanFinancial servicesNet incomeTotal assetsParentHawaiidoing business asnational bankconsumercommercialmultinationalholding companyJ.P. Morgan & Co.Manhattan CompanyChemical BankBank One CorporationWashington MutualFirst Republic Banklargest bank in the United Statescontiguous United StatesAaron BurrThe Bank of The Manhattan CompanyBank of the Manhattan CompanyBronx RiverAlexander HamiltonBank of New YorkThe Economistretail bankingPittsburghMellon FinancialBNY MellonUnited States Treasury SecretarySalmon P. ChaseMechanics and Metals National BankJohn D. Rockefeller Jr.wholesale bankGeneral ElectricRockefeller Centeroil industryStandard OilExxonMobilJohn J. McCloyChermayeff & GeismarDavid Rockefellerbank holding companyChase Manhattan CorporationArizonaConnecticutManufacturers Hanover CorporationTexas Commerce BankBank OneBear StearnsSNL FinancialWells FargoBank of AmericaMiami, FloridaWilmington, DelawareChase Manhattan BankChemical BankManufacturers HanoverChicagoBank One Corp.William B. Harrison Jr.CitigroupColumbus, OhioFirst Chicago NBDFirst Chicago BankFirst Chicago CorpNBD BancorpNational Bank of DetroitreceivershipFederal Deposit Insurance CorporationOffice of Thrift SupervisionequityProvidian FinancialChinatownManhattanCollegiate Funding ServicesLightyear CapitalBank of New York Co.New JerseyIndianaWestern PennsylvaniaOffice of the Comptroller of the Currency"Big Four"PNC Financial ServicesNational CityacquisitionFirst Niagara BankKeyBankMontanaBillingsUnited Kingdomcurrent accountDeposit accountNational Archives and Records AdministrationFederal Bureau of InvestigationWorld War IIGerman governmentReichsmarkdollarsGermanyémigrésintelligence gatheringJohnson ActEspionage ActForeign Agents Registration ActU.S. TreasuryJ.P. Morgan & CoNational City CorporationGuaranty BankBankers TrustAmerican ExpressNazi occupation