JPM chief says digital currency “has no actual value,” but likes the blockchain technology behind it; lender will wait until “the time is right” before re-applying.
"Jamie Dimon gets paid to worry about bitcoin because he's a rent-taker," said Mike Novogratz, a former principal and macro fund manager at Fortress Investment Group. "The decentralized revolution is about going after the rent-takers."
JPMorgan Chase joined Wall Street rivals in expressing a willingness to get involved with cryptocurrencies like bitcoin, which surged to a record on Thursday.
Deutsche and Barclays chiefs are under different pressures to turn their banks around; with mergers and acquisitions at a low, deal for OneMain would be big.
The comments by JPMorgan Chase CEO Jamie Dimon on bitcoin demonstrate a distinct lack of understanding of the reality that the virtual currency has an incredible value proposition.
A number of banks and business groups sue to block prohibition on mandatory arbitration; credit bureau weighs how far back to look in denying compensation.
The Financial Stability Oversight Council meets Friday to discuss removing the label from the now shrunken insurer; Senate Banking Committee to hear Richard Smith on October 4.
Did hackers access the credit bureau's computers two months earlier than the company first thought?; the Fed's decision to start unwinding its balance sheet should raise rates and boost bank profits.
China’s crackdown on cryptocurrency exchanges raises questions about the future of digital asset innovation, a movement that some bankers view as a threat and others embrace as a boon to payments, P-to-P lending and other activities.
