JP Morgan Chase Reports Third Quarter Financial Results
JP Morgan Chase has reported financial results for the third quarter. In its Card Services business segment, the bank reported a 63% decline in net income on a year over year basis as its provision for credit losses was up substantially. Charge volume on its cards was up 5% year over year but essentially flat versus the second quarter. Merchant processing dollar volume at Chase Paymentech was up 9% with transaction volume up 14%.
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