Readers chime in on banks being problem-solvers, Jamie Dimon’s ties to Trump, a new mortgage app, CFPB catching heat over the Wells Fargo account scandal, and more.
Given Jamie Dimon’s stature in banking, it’s unlikely that the longtime CEO's role on the advisory panel of a controversial president could tarnish JPMorgan Chase's reputation. But his involvement nonetheless carries an element of political risk.
In an extensive interview, Philadelphia Fed President Patrick Harker talks about the challenges facing community banks, the biggest threat to the financial system and the possibility of interest rate hikes later this year.
The good news: SBA lending is going gangbusters and business owners are optimistic about growth prospects and their ability to access credit. The not-so-good news: Many firms are still not particularly interested in borrowing and startups are not the engines of job creation they once were.
The public-private effort, aimed at expansion-minded tech and other companies with proven track records, would be backed by the country’s six largest banks, insurance companies and regional lenders.
Federal Reserve Chair Janet Yellen appeared Tuesday before an uncommonly collegial hearing of the Senate Banking Committee, but the lack of outward drama masked the fact that lawmakers from both parties were using her testimony to lay the groundwork for a broader battle over the future of regulatory reform.
