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...Plaid’s investors include Silver Lake Partners and Ribbit Capital, as well as the asset management arms of JPMorgan Chase, Goldman Sachs and American Express....
...Commercial property, and in particular mortgages on office buildings with low occupancy rates, have been a big concern for lenders since the Fed started lifting interest rates....
...Citi also has a reputation for offering favourable rates on mortgages to its law firm clients....
...Citi says it serves 700 law firms and 50,000 lawyers in the US and Britain, providing services that include favourable mortgage rates....
...“They had to drive an hour or more into a big city just . . . to try to get a mortgage or car loan,” he said....
...And the riskiest business to be in was subprime mortgage. So Citi ran right into it....
...The Federal Deposit Insurance Corporation, which is leading the government effort, received bids from banks including JPMorgan Chase, PNC and Citizens, according to three sources with knowledge of the situation...
...First Republic’s business model of using low-cost deposits to fund cheap mortgages has been squeezed by rising interest rates....
...Some financial services sector companies, including Goldman Sachs, are already embarking on cost-cutting drives and lay-offs....
...Historically, we know that rising interest rates typically increase loyalty to large incumbent banks with the capacity to cross-sell financial services, for example offering a lower mortgage rate to customers...
...He used a win to buy 100 shares in the meme stock AMC at $30 in May and sold at about $65 in June....
...Reach out to me (imani.moise@ft.com) or Sid (sid.v@ft.com) to let us know. Happy reading!...
...Chase Coleman has shown little interest in changing his stripes....
...The company became the first casualty of the financial crisis when it was bought by JPMorgan Chase for $10 a share in a government-assisted deal....
...That’s understandable when you have stories like AMC Entertainment and how Silver Lake was able to take full advantage of the Reddit rally....
...We saw similar outcomes for Aurora Capital, which agreed to a deal with the SoftBank-backed mortgage lender Better, and Switchback II, the Spac transporting electric scooter start-up Bird to public markets...
...At Interactive Investor, we have seen GameStop and cinema chain AMC Entertainment Holdings — two companies unknown to most investors a few months ago — enter the most popular holdings list for the 18-34...
...“Markets are pricing a V [shaped recovery], everyone’s coming back to work, and this is going to be fine,” Mr Falco said. “I don’t think it’s going to be that easy quite frankly.”...
...The social media network stands to get a key foothold in the Indian market where its WhatsApp chat service already has 400m users and is about to launch a payments service....
...JPMorgan Chase analyst Jamie Baker, in a recent note, said: “October 1 is likely to emerge as one of the darkest days in history for airline labour.”...
...The sobering figures from three of the biggest US banks came the day after JPMorgan Chase and Wells Fargo reported a combined $12.3bn of credit charges for the first three months of the year, as they ramped...
...Hajime Tamachi, a senior financial services banker at Nomura based in Hong Kong, is leaving the Japanese bank, Bloomberg reported....
...USA Inc — in other words offering a dire signal on the outlook”....
...‘why don’t I just get the Chase app and have the bank access?’.” Beyond consumer services, America’s big banks are also facing increasing fintech competition in small-business lending....
...Fewer swaggering bankers, more dull mortgage advisers please. That has been the message for Wall Street’s bulge-bracket banks this year....
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