JPMorgan Chase is said to be dropping its Quorum blockchain technology, and little is happening with other blockchain projects that have been in the works for years. What gives?
More than a decade ago, bankers fought Walmart tooth and nail as it made forays into banking. But with Amazon making more moves into financial services, the reaction is very different.
Jamie Dimon, chairman and chief executive of JPMorgan Chase, jumped into the growing debate Wednesday over how consumer data is collected and used, responding to concerns about stolen Facebook data.
Banks say that an appeals court’s decision to ease restrictions will allow them to warn customers more easily when loans are past due or accounts have been compromised. But consumer groups argue that the decision gives financial firms license to market their products more aggressively and could lead to more harassing phone calls over unpaid debts.
Online banks and some credit unions are responding to Fed rate hikes by aggressively raising deposit rates on CDs, savings accounts and money market products, while the nation's biggest banks are largely standing pat — for now.
Amazon.com is planning to offer a credit card to U.S. small-business customers, furthering its push to supply companies with everything from reams of paper to factory parts, according to people with knowledge of the matter.
