JPMorgan CEO: Bank sees more mortgage losses

JPMorgan Chase & Co.'s CEO said Tuesday that the bank sees additional losses on home loans next year even as the economy shows slight improvements.

Jamie Dimon told investors at the Goldman Sachs U.S. Financial Services conference in New York that his bank is seeing initial signs of stability in consumer delinquency trends, but he also warned that it is not certain if the trend will continue.

JPMorgan has emerged from the financial crisis as one of the nation's strongest banks. But Dimon said if the economy weakens further, his bank may need to boost its reserves.

Read Full Article from The Associated Press

- Posted: 2009-12-08 20:02:44

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