For America’s biggest banks, deposit costs are exceeding interest income. That’s the first time that’s happened since the Federal Reserve began increasing rates two years ago, the Financial Times noted in a report Sunday (April 28) on the phenomenon. Among the lenders in question is Wells Fargo,...
Earnings season is less than two weeks old. By and large, the data and the press releases indicate that consumers are still spending, on experiences especially, and are using their cards to do so. But here and there, management commentary and some metrics on loans...
JPMorgan Chase CEO Jamie Dimon reportedly said Tuesday (April 23) that the U.S. economic boom is “unbelievable.” Speaking at an event at The Economic Club of New York, Dimon said employment is strong, consumer finances are healthy, and consumers would still be in good shape even if the economy...
The looming specter of wire fraud has spurred lawmakers to press big banks for better defenses against bad actors — and a detailing of the impact the scams have had on consumers. On Thursday (April 18), in a letter to the CEOs of JPMorgan Chase, Bank of America, Wells Fargo and Citi, Sens. Sherrod Brown,...
April 19, 2024
The looming specter of wire fraud has spurred lawmakers to press big banks for better defenses against bad actors — and a detailing of the impact the scams have had on consumers. On Thursday (April 18), in a letter to the CEOs of JPMorgan Chase, Bank of America, Wells Fargo and Citi, Sens. Sherrod Brown, D-Ohio, Chairman of the Senate Committee on Banking, Housing, and […]
March 21, 2024
Banks — the stalwarts of traditional lending — are finding new channels and conduits to getting capital to borrowers, across alternative channels, and with FinTech collaborations forged and expanded. Alternative...
March 07, 2024
Beyond monitoring the bank accounts, beyond the day-to-day ebb and flow of cash in the corporate coffers, treasurers’ roles are changing. And, increasingly, technology is the prime enabler of that...
January 04, 2024
The CE 100 Index soared in 2023, largely on the wings of widespread rallies among banking and buy now, pay later (BNPL) names, up double digit and, in some cases,...
May 08, 2024
The U.S. financial system is exploring the use of shared ledger technology for multi-asset transactions. The project will involve a number of high-profile financial institutions (FIs) — including Visa, Mastercard, Citi and JPMorgan — managed by the Securities Industry and Financial Markets Association (SIFMA). “In the current financial system, commercial bank money, wholesale central bank money, and securities such […]
April 28, 2024
For America’s biggest banks, deposit costs are exceeding interest income. That’s the first time that’s happened since the Federal Reserve began increasing rates two years ago, the Financial Times noted...
April 23, 2024
JPMorgan Chase CEO Jamie Dimon reportedly said Tuesday (April 23) that the U.S. economic boom is “unbelievable.” Speaking at an event at The Economic Club of New York, Dimon said employment is strong, consumer...
April 19, 2024
ShipBob is reportedly planning to launch its initial public offering (IPO) as soon as late 2024. The listing could value the eCommerce fulfillment service provider at about $4 billion, Bloomberg...
