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.
Chenault to leave credit card giant helm after 16 years, vice chairman will take his place; Brett Redfearn named the agency’s director of trading and markets.
Quarterly earnings at big five banks could have been worse; Chase to buy WePay, which helps online marketplaces and crowdfunding websites process payments.
JPMorgan Chase has made several investments in financial technology startups, but its plan to buy WePay will give its 4 million small-business clients a much more direct way to adopt digital payments.