The agency's board voted 3-1 on Tuesday to give large banks additional time to comply with new rules that force them to keep better track of insured deposits.
Members from states threatened by storms say their proposal is better for consumers than recent legislation passed by the House Financial Services Committee.
The company revealed its pretax losses for its forays into consumer and other digital banking services, which began in 2016 with the launch of a consumer deposit franchise and an installment loan product.
The Treasury Secretary says Facebook’s cryptocurrency plan creates national security issues; the New York Fed chief tells financial firms to stop dragging their feet and move on from Libor.
Granted, the bank's earnings per share topped estimates in the second quarter, but its forecast on net interest income suggests it will be harder for JPMorgan Chase to offset declining revenue from trading stocks and bonds.
