Investors concerned about the impact on banking of climate change, the pay gap and ethics matters are pushing back against a coalition of the heads of the biggest U.S. banks and other public companies that wants to limit small investors’ access to proxy ballots.
Jamie Dimon said President Trump's economic agenda has ignited U.S. business and consumer confidence and he expects at least some of the administration's proposals to be enacted.
At the very least, President Trump's executive order on Dodd-Frank is liable to make it tougher to reach compromise on regulatory reform. In the long run, it's helping to push Democrats further to the left.
Bank CEOs have recently raised red flags about the president's protectionist rhetoric, including his proposals to tax imports from China and Mexico. The concerns have arisen as import-export financing is already facing headwinds.
Treasury Secretary-designate Steven Mnuchin fended off questions about his past investments and foreclosure practices while discussing policy matters at his Senate confirmation hearing; FHA mortgage bond volume is starting to hit worrisome levels.
JPMorgan Chase, Bank of America and PNC reported lackluster revenue growth as higher trading fees and increases in commercial lending barely compensated for consumer-side challenges.
