The move adds heft to the blockchain-based Interbank Information Network; many of those terminated in the phony accounts scandal say they’ve been blacklisted.
The bank is adding senior tech executives from Amazon and Verizon as partners; bank allegedly inflated prices and overcharged investors for mortgage bonds.
Dimon doesn’t expect it to happen, but the bank is getting ready just in case; the state will require banks to disclose their relationship with gun sellers.
Mnuchin hopes to strike a deal soon to recapitalize the two mortgage giants, a prelude to privatization; the bank’s focus on mid-tier corporations is starting to bear fruit.
The six biggest banks are expected to issue disappointing forecasts as rates continue to decline; technology stock mutual funds scored with payment plays.
The mortgage agencies would be privatized under Trump administration plan; central bank will probably cut rates by 25 bps, not 50 bps, at its next meeting.
About 15% of the bank’s partners are likely to leave this year to make room for new ones; the bank said it is looking into why it charges some customers even after their accounts are closed.
The co-head of the bank’s securities division, 55, was once seen as a possible CEO; the institutions are gobbling up small banks at a record pace, prompting pushback from banks.
A growing number of companies, led by Walmart, are offering payroll advance loans to their workers; Christian Sewing said he will invest 15% of his net earnings in the German bank’s struggling shares.
