The Pittsburgh company reported a 39% gain in retail banking profits amid a lot of strong first-quarter numbers, yet it still fell short of analysts' earnings expectations by a penny and wants to push for stronger loan growth.
In addition to his highly publicized comments on trade and other political issues, the CEO of JPMorgan Chase used his annual letter to underscore the importance of job training for low-wage workers and call attention to an FDIC proposal that encourages banks to hire workers who have been convicted of minor crimes.
Efforts by financial institutions to track "beneficial ownership" data in advance of a regulatory deadline next month is complicated by the challenge of getting customers to cough up the information.
The San Francisco Fed chief, an economist, is seen as a complement to Fed chair Powell; the proposal would make it easier for banks to comply with the law.
U.S. banks lag the technology, telecommunications and energy sectors in what they pay employees, according to new data. The gap suggests that the industry may not be the acting aggressively enough to remake itself for the digital age.
