Financial institutions increasingly depend on large tech companies such as Google and Apple for infrastructure, said the group that runs the Davos conference, stopping well short of recommending regulatory changes.
A Fed committee studying Libor’s replacement has dwelled heavily on the potential impact to the derivatives market. Loans may become a bigger part of the conversation later this year, but the panel plans to leave a lot of the specifics up to lenders.
Credit card issuers have been trying to outdo each other to offer the best rewards program. And it shows, as customer satisfaction rates with many (but not all) of their banks have never been higher in a yearly J.D. Power study. But they may not last forever.
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.
The Consumer Financial Data Rights group, representing aggregators and fintechs, says banks still aren’t forking over enough customer data. The group is meeting with bank regulators and trying to get consumers to petition regulators on its behalf.
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.
The $2.6 trillion-asset bank's recent commitment to digital lending augurs the development of a two-tier market for borrowers who want fast access to cash.
JPMorgan CEO Dimon says banks are putting Silicon Valley to shame … in terms of diversity; Uber’s plan to replace its CEO with a woman seems to be sputtering; and Yellen’s potential successors also are all men.
The business world has been seeking the benefits of distributed ledgers but worries about security, control, privacy, performance and other issues. Microsoft says its new Coco framework will solve all these and more.
