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Category: Financial Services


Financial Services, Industries

Disappearing cash scares consumers in COVID-19 era

July 2, 2020

Via: USA TODAY

A social media storm kicked up late Saturday and Sunday as Chase banking customers panicked when it seemed as if money suddenly vanished from their bank accounts. Some consumers who expected to be paid Friday via direct deposit claimed during […]


Financial Services, Industries

Wells Fargo Breaks Rank With Wall Street and Cuts Its Dividend

June 30, 2020

Via: TheStreet

Wells Fargo (WFC) – Get Report announced it will cut its dividend, breaking rank with all of Wall Street’s other big banks, following the Federal Reserve’s move to set new restrictions on dividend payouts to shareholders. The fourth-biggest U.S. bank […]


Financial Services, Industries

JPMorgan to Pay $2.5 Million to Settle Cryptocurrency Case

June 1, 2020

Via: TheStreet

Banking titan JPMorgan Chase (JPM) – Get Report agreed to shell out $2.5 million to settle a class-action lawsuit stemming from its 2018 decision to classify purchases of cryptocurrency with Chase credit cards as cash advances, creating higher fees. The […]


Financial Services, Industries

Bank of America CEO Brian Moynihan says U.S. economy starting to ‘come out of the hole’

May 28, 2020

Via: CNBC

The U.S. economy is beginning to recover from shutdowns tied to the coronavirus pandemic, Bank of America CEO Brian Moynihan told CNBC on Thursday. Moynihan cited consumer spending figures from the millions of households using his lender’s credit and debit […]


Financial Services, Industries

Banks will struggle to generate profits even as the global economy recovers, IMF says

May 22, 2020

Via: CNBC

WASHINGTON — The beaten-down banking sector will remain under pressure through 2025 even as the economy recovers, the International Monetary Fund said Friday. In its latest “Global Financial Stability Report,” the IMF found banks across nine advanced economies will struggle […]


Financial Services, Industries

Morgan Stanley’s profit falls short, but trading beats estimates on market volatility

April 16, 2020

Via: CNBC

Morgan Stanley on Thursday posted first-quarter profit that missed analysts’ expectations and warned that a sole bright spot for the industry, robust trading results, may prove to be fleeting. The bank said in a release that earnings dropped 30% to […]


Financial Services, Industries

Mastercard and Visa Shares Cut to Hold as Jefferies Cites Fallout From Virus

April 15, 2020

Via: TheStreet

Visa (V) and Mastercard (MA) took a hit Wednesday after a top analyst turned bearish on the credit card giants amid the economic fallout from the coronavirus crisis. Shares of Visa and Mastercard fell after Jefferies analyst Trevor Williams reduced […]


Financial Services, Industries

JPMorgan Chase is set to report first-quarter earnings following Dimon’s dire warning about economy

April 14, 2020

Via: CNBC

JPMorgan Chase is scheduled to report first-quarter earnings before the opening bell Tuesday. Here’s what Wall Street expects: Earnings: $1.84 per share, a 31% decline from a year earlier, according to Refinitiv. Revenue: $29.67 billion, a 0.6% decline from a […]


Financial Services, Industries

Bank of America Sees Demand Surge for Paycheck Protection Loans

April 6, 2020

Via: TheStreet

Bank of America (BAC) – Get Report said Monday it was seeing strong demand for emergency rescue loans as current applications already account for nearly 10% of the entire amount allocated by Congress. The bank said that as of Monday […]


Financial Services, Industries

JPMorgan says the coronavirus market rout has probably hit bottom already

March 30, 2020

Via: Fortune

Strategists at JPMorgan Chase & Co. have concluded that most risk assets — a universe that typically includes stocks and credit — have seen their low points for the recession that’s gripped economies around the world. Conditions that JPMorgan had […]