Bank fires four forex traders, while the OCC slams its auto lending practices; United wants to renegotiate its co-branded credit card agreement with JPM.
Despite a direct request by six Democratic senators that Fannie Mae and Freddie Mac be allowed to rebuild capital, Treasury Secretary Steven Mnuchin did little to clarify the administration's thinking.
With the deadline for a federal-debt-limit renewal nearly a month away, bankers are dreading the prospect of higher funding costs, strained liquidity, weaker commercial loan demand and other ramifications if Washington does not act.
The CEO of JPMorgan Chase served on President Trump's strategic and policy forum, one of two councils that are now being dissolved, and had drawn criticism for sticking with it.
JPMorgan Chase Chief Executive Jamie Dimon joined U.S. corporate leaders in denouncing racial intolerance as the pressure heats up on them to challenge President Trump on social and other policy matters. However, Dimon remains on a key presidential advisory group.
Democrats sent a letter to House Financial Services Committee Chairman Rep. Jeb Hensarling, R-Tex., asking that he investigate potential financial ties between President Trump and Russia.
Special counsel Robert Mueller is said to be drawing on ongoing investigations, including one by federal prosecutors into whether former Trump campaign manager Paul Manafort laundered money from eastern Europe into New York properties.
House Democrats are ultimately hoping that the Deutsche investigation will provide more information about President Trump’s business dealings with Russia.
Post-crisis financial rules have made the business of project lending less profitable for commercial banks. Foreign competitors have stepped in to fill the void, but U.S. banks can carve out a niche as bond offering managers and financial advisers.
