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JP Morgan Chase (NYSE: JPM)
JPMorgan Chase & Co. operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management.
Jamie Dimon: Pandemic Is ‘Wake-Up Call’ For Inclusive Recovery
May 19, 2020
Jamie Dimon, CEO of JPMorgan Chase, said in a memo that the coronavirus pandemic has revealed weaknesses that require a bipartisan approach to correction. The note came out ahead of the ... Read moreSpending Down 40 Pct Among JPMorgan Chase Cardholders
May 14, 2020
New research from the JPMorgan Institute shows that Chase cardholders are spending less amid the coronavirus pandemic, with a 40 percent drop during the second through the fourth week of ... Read moreBitcoin Daily: Mauritius To Test Digital Currency; JPMorgan Adds 2 Crypto Exchanges As Bank Clients
May 12, 2020
The Bank of Mauritius is progressing toward providing a central bank digital currency (CBDC) per its governor, CoinDesk reported.
Harvesh Seegolam, bank governor, said at a virtual conference, “At the level ... Read morePandemic Sparks Mainstream Interest In Bitcoin
May 12, 2020
Bitcoin has long been the marquee name — shorthand, if you will — for the cryptocurrency space.
Price swings can tell a lot about how investors, or speculators, view the prospects ... Read moreMarriott Takes In $920M Via Credit Card Deals Amid COVID-19
May 5, 2020
As it weathers a lull in travel because of COVID-19, Marriott International Inc. has taken in $920 million in cash via arrangements with co-branded credit card firms. The hotel firm ... Read moreThe Post-Pandemic SMB Restart, Localized Payments, PPP Audits Top This Week’s News
May 1, 2020
It’s the end of the work week, and the PYMNTS Weekender is here to make sure you didn’t miss anything with the latest in payments and commerce news. We have ... Read moreJPMorgan, Other Big Banks Front-Load $66B To Cover Bad Loans
April 30, 2020
JPMorgan Chase was the biggest saver of funds in an effort by banks around the world to get ahead of a spate of bad loans they believe is coming.
The banks, ... Read moreDeep Dive: How Banks Use Digital Technologies To Outlast The Coronavirus
April 24, 2020
The coronavirus outbreak is still ravaging countries worldwide, but it has not eliminated consumers’ and businesses’ need to transact, finalize complex arrangements like trusts, or speak with their bankers about ... Read moreCOVID-19 Update: JPMorgan Chase Works To Bring Staffers Back Onsite; McDonald’s Aims To Open Dining Rooms Again Slowly
April 21, 2020
Businesses from banks to quick-service restaurants (QSRs) are taking steps to bring workers and diners back into their buildings. Here are the latest coronavirus reopening updates:
JPMorgan Chase is creating a ... Read moreLenders Ask Treasury To Focus Next PPP Round On ‘Real’ SMBs
April 21, 2020
The biggest banks in the U.S. were reportedly in talks with the Treasury on Monday (April 20) over the next round of Paycheck Protection Program (PPP) funding and how to ... Read more
J.P. Morgan: How Payments Drive Customer Loyalty Amid A Digitization Push
May 14, 2020
Amid a sudden and dramatic shift in consumer shopping behavior, merchants across all industries have been forced to react quickly. The pandemic required digitization for many businesses to keep revenue ... Read moreSalary Cuts Swell The Paycheck-To-Paycheck Ranks
April 22, 2020
The recent spike in joblessness has attracted no small share of attention for the very good reason that the figures taken from any angle are incredibly eye-catching. Unemployment filings came ... Read moreWells Fargo Debit/Credit Purchases Down as COVID-19 Hits
April 15, 2020
Wells Fargo’s first-quarter results showed the impact of reduced customer spending amid the continued impact of the coronavirus, and reserves taken in anticipation of loan losses.
Earnings per share were a ... Read moreThe Week In Payments: The Visible Perils And Hidden Promise Of The Coronavirus
March 20, 2020
It almost never happens that a week in payments is dominated by a single story. In an active and competitive series of interconnected ecosystems, there is typically no shortage of big news ... Read moreTrump Unveils Measures To Combat Economic Impact of Virus
March 11, 2020
President Donald Trump unveiled a number of executive actions designed to blunt at least some of the economic impact of the coronavirus, which continues to spread across the United States. In ... Read moreJPMC CEO: Bank Plans FinTech, Other ‘Very Creative’ Acquisitions
February 26, 2020
Billions of dollars in earnings. Billions of dollars in the bank.
Time to go shopping?
As reported by CNBC, Jamie Dimon, CEO of JPMorgan, said at the company’s investor day Tuesday that ... Read moreJPMorgan Chase To Open UK Digital Bank By Year’s End
February 24, 2020
JPMorgan Chase is taking steps to open a digital bank in the U.K. by the end of the year.
The banking firm has been talking with London regulators about the idea, ... Read moreJPMorgan To FinTechs: Sign Data Sharing Deals, Sources Say
February 14, 2020
As large banks and FinTechs worldwide wrestle over data-sharing, JPMorgan Chase & Co has reportedly set a mid-summer deadline for FinTechs to ink new data access agreements. FinTech firms will ... Read moreUber Bans 240 Mexican Passengers As Coronavirus Precaution
February 3, 2020
Approximately 240 Uber users in Mexico can’t use the service now, their accounts suspended by the parent company after concerns over the coronavirus contamination.
According to a statement posted to Uber’s ... Read moreRTP Raises Transaction Threshold To $100K
January 23, 2020
The Clearing House (TCH) is upping the value limit for transactions from the current level of $25,000 to $100,000 starting Feb. 1, TCH announced on Thursday (Jan. 23).
The new higher ... Read more
Spending Down 40 Pct Among JPMorgan Chase Cardholders
May 14, 2020New research from the JPMorgan Institute shows that Chase cardholders are spending less amid the coronavirus pandemic, with a 40 percent drop during the second through the fourth week of ... Read moreBanks Prep For Wave Of Skipped Credit Card Payments
April 26, 2020
Banks are bracing for fallout as more people struggle to make credit card payments due to lost paychecks amid the coronavirus pandemic, according to a report by The Wall Street Journal ... Read moreJPMorgan Says It’s Processing 300,000 PPP Loans
April 14, 2020
JPMorgan Chase reported results that showed the impact of the coronavirus, especially toward the end of the quarter, reflecting declines in consumer spending – and expectations that a significant number ... Read moreIndia Unwraps Its Commercial Card Opportunity
March 13, 2020
Despite its demonetization policy, a thriving eCommerce climate, and continued growth in electronic and mobile payments, card penetration remains especially low in India, hovering at about 2 percent to 3 ... Read moreBusiness Banking Co Pleo Shifts To Credit Cards
January 30, 2020
Pleo, a business banking company, has announced that it is pivoting its business model in partnership with JPMorgan and Mastercard, and will now offer company credit cards instead of prepaid ... Read moreBanks’ Earnings Show Digital Traction Amid Buoyant Consumer Spending
January 20, 2020
There are a few common themes among big bank earnings reports.
The U.S. consumer is strong, and the ripple effects of strong U.S. consumer spending is carrying over to other areas ... Read moreWells Fargo Sees Card Spending Growth As Restructuring, Regulators Loom
January 14, 2020
For Wells Fargo (at least, when it came to the latest earnings report), it was all about the costs — and scandals. Charles Scharf, the new CEO who took the ... Read moreJPMorgan Points To Healthy Consumer Spending, Card Transactions Jump 10 Pct.
January 14, 2020
The consumer is doing just fine.
To that end, JPMorgan Chase reported results that showed continued strength in U.S. consumer banking and spending on credit cards.
In terms of headline numbers, the ... Read moreBig Banks Surge Amid Strong Holiday Spending
December 26, 2019
Some of the largest U.S. banks, like JPMorgan Chase, Bank of America (BoA) and Citigroup, gained as consumers spent during a robust holiday season, according to a report by Bloomberg.
BoA ... Read moreAmex: The Race For Rewards Dominance Is Slowing
December 10, 2019
American Express (Amex) said there is finally some relief from the rewards war that has been raging for the past three years, Bloomberg reported on Tuesday (Dec. 10).
The battle lines ... Read more
Deep Dive: Pandemic-Related Budget Concerns Push BNPL Growth
May 21, 2020
Consumer spending has sharply declined since the COVID-19 pandemic led to worldwide economic closures. The U.S. Department of Commerce recently reported that spending in the country fell 7.5 percent from March ... Read morePandemic Might Launch Flight To Suburbs, And That’s Bad For Urban Businesses
May 14, 2020
The COVID-19 pandemic is prompting many Americans to consider moving from urban areas to the suburbs or rural locales – a potentially bad sign for businesses like offices and downtown ... Read moreSalary Cuts Swell The Paycheck-To-Paycheck Ranks
April 22, 2020The recent spike in joblessness has attracted no small share of attention for the very good reason that the figures taken from any angle are incredibly eye-catching. Unemployment filings came ... Read moreToday In Payments: Uber Expects Revenue Plunge; Coronavirus Triggers First GDP Decline In China
April 17, 2020
In today’s top news, Uber withdrew 2020 guidance as it anticipate revenue decline, and China’s economy will record its first-ever GDP loss. Plus, banks can take stimulus money to cover ... Read moreSaving Main Street: Cities Pick Up The Recovery Role
April 10, 2020
Cities are starting to supplement the federal government in an effort to save Main Street businesses from the destructive economic effects of the COVID-19 pandemic. While they will lack the ... Read moreThe Essential Classification Divide Grows Among Retailers
March 27, 2020
The divide between essential and non-essential retail grows bigger by the day as deep discounters and dollar stores continue to add stores, employees and revenue during the COVID-19 crisis. In ... Read moreRetailers Cancel $1.5B In Bangladesh Clothing Orders Amid Coronavirus
March 23, 2020
With the COVID-19 pandemic impacting demand, European and American buyers have called off roughly $1.5 billion of Bangladesh clothing orders. Bangladesh Garment Manufacturers and Exporters Association President Rubana Huq said ... Read moreMany Amazon Sellers Prep For The Worst
March 18, 2020
Amazon is concentrating on selling and shipping coronavirus-related products like household staples and medical supplies, making sellers of other goods nervous, CNBC reported on Wednesday (March 18).
Sellers are expecting the ... Read moreCostco Struggles To Keep Up With Coronavirus Demand
March 10, 2020
As customers visit Costco to stock their pantries amid the coronavirus outbreak, CFO Richard Galanti said on an earnings call last week that the retailer’s procurement team is “working, in ... Read moreWEX Cuts Q1 Revenue Forecast Due To Coronavirus
March 4, 2020
As the COVID-19 virus, or coronavirus, unfolds, financial technology provider WEX Inc. has cut its Q1 revenue outlook. The firm said in an announcement it has been keeping a close ... Read more