Will This Bank's Reputation Take Another Hit?http://www.fool.com/investing/general/2013/03/06/will-this-banks-reputation-take-another-hit.aspx David Hanson
March 6, 2013
Tomorrow afternoon, when the Federal Reserve announces the results of stress tests related to the Dodd-Frank Act, one thing important to every big bank CEO will be on the line: Reputation. For any of the largest U.S. banks, reputation of its brand and balance sheet quality impact borrowing costs and operational success.
The last 12 months have been somewhat of a rollercoaster ride for Jamie Dimon and the reputation of JPMorgan Chase (NYSE: JPM). In March 2012, while still holding the title of "Obama's favorite banker," Dimon successfully guided the bank through the Federal Reserve's annual stress tests. In typical Dimon-fashion, the charismatic CEO announced the bank's intention to raise its dividend and initiate $15 billion of share buy-backs before the institution had been given official approval from the Fed. Some saw this as miscommunication; others saw Dimon marching to the beat of his own drum.
From confident to incompetent
The results set to be released