JPMorgan Abandons Plans for New $6.5B NYC Headquarters

Germany's largest bank faced legal expenses, setting aside $1.1 billion for settlements. Marcus Shank from Goldman Sachs will replace Stephen Prows as CFO. JP Morgan Chase halted its Manhattan headquarters project due to subsidy issues. The Federal Reserve concluded its meeting, ending the bond-buying program and expressing concerns over declining inflation.

What financial measure did Germany's largest bank take to address past issues?

• Set aside $1.1 billion for settlements

• Increased interest rates

• Launched a new investment fund

• Reduced employee salaries

Who is set to become the new CFO of Germany's biggest lender?

• Jamie Dimon

• Marcus Shank

• Janet Yellen

• Stephen Prows

Why did JP Morgan Chase abandon its Manhattan headquarters project?

• Lack of funding

• Issues with subsidies and land purchase

• Environmental concerns

• Employee protests

What was the planned cost of JP Morgan Chase's new headquarters project?

• $3 billion

• $6.5 billion

• $10 billion

• $1 billion

What is the Federal Reserve expected to do at the end of their meeting?

• Introduce new banking regulations

• End the bond-buying program

• Increase interest rates

• Announce a new stimulus package