When JPMorgan Chase (JPM) told investors this month about a possible Consumer Financial Protection Bureau enforcement action targeting bank-owned payments app Zelle, it also offered a warning to those same regulators. The New York banking giant said it was evaluating whether to sue the CFPB over the Zelle inquiries, according to a quarterly filing made
Money Pixabay As the financial sector starts to embrace artificial intelligence, JPMorgan Chase has taken a significant step forward with the launch of the LLM Suite. According to an internal memo obtained by the Financial Times, the world’s largest bank by market capitalization is launching a generative AI-based tool for its workers. This generative AI
The US national debt is closing in on $35 trillion, triggering a warning to investors from analysts at JPMorgan Chase. According to new data from the Treasury, the total outstanding public debt amounts to $34.99 trillion – or $34,997,540,505,103 to be exact – as of July 25th. That’s up from $32.59 trillion just one year
Former President Donald Trump says one of Bitcoin’s biggest critics is warming up to the crypto industry. In a newly-released interview transcript from Bloomberg, Trump says JPMorgan Chase CEO Jamie Dimon’s notoriously negative views on crypto are evolving. “You ask Jamie Dimon, Jamie Dimon was, you know, very negative and now all of a sudden
America’s largest bank says the state of the cryptocurrency market may not be sustainable. This year has seen crypto net inflows of $12 billion thus far — a figure that could jump to $26 billion by year’s end assuming flows continue apace — a trend driven by demand for spot bitcoin exchange-traded funds (ETFs), JPMorgan
The US Government has seized $5.25 million in six bank accounts at JPMorgan Chase, alleging the funds are the proceeds of a sophisticated fraud scheme. A complaint filed by the US Justice Department says the funds were stolen from a workers union in Massachusetts that was tricked into wiring millions of dollars directly to scammers.
By Nupur Anand NEW YORK (Reuters) -JPMorgan Chase boosted its outlook for investment banking revenue, forecasting a jump of 25% to 30% in the second quarter fueled by capital markets, a top executive said on Wednesday. The forecast became more bullish than in May, when the bank predicted investment banking revenue would rise by a
Artificial intelligence is increasingly playing a role in helping with investment decisions at top asset managers, and that includes the biggest bank by market cap. Later this year, JPMorgan will expand the use of a generative AI tool known as “Moneyball” to help portfolio managers avoid bad calls, such as potentially selling hot stocks too
New York Community Bancorp, the parent of Flagstar Bank, said it’s still committed to the home loan business despite selling approximately $5 billion in warehouse mortgages to JPMorgan Chase Bank to improve its capital and liquidity position. On Tuesday, NYCB said it entered into a commitment letter with JPMorgan. The transaction is subject to due
By Niket Nishant and Manya Saini (Reuters) -New York Community Bancorp’s shares rose about 6% before the bell on Wednesday after the lender agreed to sell a portfolio of about $5 billion in mortgage warehouse loans to JPMorgan Chase. The deal on Tuesday with the largest U.S. bank by assets will bolster NYCB’s liquidity as