The divide highlights a lingering question about how much commercial and retail depositors value cutting-edge technology over price — and whether midsize banks can keep pace with bigger rivals when it comes to tech investments.
During earnings calls, bankers welcomed the latest efforts by regulators to modify capital rules. JPMorgan Chase CFO Marianne Lake, meanwhile, called on policymakers to focus on overhauling the G-SIB surcharge.
Powell says he backs raising the SIFI threshold and easing capital requirements for big banks; Mulvaney says agency will weigh costs of compliance for lenders.
Banks have been in full cost-cutting mode in recent years, but with profits expected to increase substantially as a result of tax reform, all analysts and investors want to know is how they plan to spend their tax savings.
Rising losses and chargeoffs at JPMorgan Chase and Citigroup could be an indication of future trouble at other banks. Still, executives are bullish on cards and argue that the loss rates are logical consequences of rate hikes and attempts to expand card business.
JPMorgan Chase joined Wall Street rivals in expressing a willingness to get involved with cryptocurrencies like bitcoin, which surged to a record on Thursday.
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.
