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...JPMorgan Chase spent about a year discussing a possible deal with Discover Financial before Capital One agreed a $35bn bid for the credit card company, as the largest US bank pursued ways to get control...
...By contrast, Zopa — which has 1mn customers — has focused on savings accounts and offering credit cards, car finance and personal loans....
...JPMorgan Chase chief executive Jamie Dimon had a one-on-one lunch at the White House last week with vice-president Kamala Harris, according to people familiar with the matter....
...Revenue from the bank’s huge bond and commodities trading unit, one of its biggest money generators, fell 10 per cent in the quarter....
...JPMorgan Chase and Bank of America were at 2.1 per cent and 2.3 per cent. At Capital One and Discover this was nearly 4 per cent. Cutting late fees also won’t affect companies equally....
...Chase cardholders will see offers when they log on to their app and can choose to activate the ones they like. Advertisers will not have direct access to Chase customer data....
...The bank said much of the jump in loan losses was tied to credit cards and commercial real estate. The bank said it took losses on 16 different office loans in the quarter....
...Credit card lending is a concentrated business: about half of the loans are made by four big banks, led by JPMorgan Chase, with the next two dozen largest banks accounting for the majority of the rest....
...Banks complain that local, politically driven measures are not assessed in terms of their competitive effects. One illustration is how the market perceives Europe’s banks: not well....
...Capital One and Discover are two of the biggest credit card lenders, behind JPMorgan Chase and Citigroup....
...But the bank’s guidance for net interest income disappointed investors, and its shares closed down 6.5 per cent, their biggest one-day drop since June 2020....
...Listening to a recent FT Behind the Money podcast about JPMorgan Chase, however, made me wonder if banks might not be the most interesting and perhaps even the most extreme example of that dynamic....
...One reason the profits are gushing at JPMorgan, compared with many of its peers, is that the bank has a much lower cost of capital....
...The bank’s Chase UK retail arm would break even in the next 12 to 18 months, JPMorgan president Daniel Pinto told the FT’s Global Banking Summit on Tuesday....
...JPMorgan Chase chief executive Jamie Dimon hit out again at a variety of proposed new US bank regulations, telling lawmakers that the rules risked hurting low-income customers and would add more risks to...
...They end up paying for all those card points, miles and cashback — one way or another. pan.yuk@ft.com...
...If you want to include all non-bank lending to the private sector, then you get a figure that is very large indeed!...
...Capital One’s $35.3bn proposed takeover of Discover Financial Services would fuse two leading credit card lenders and give it control of a network that connects consumers, merchants and banks....
...Some 33.8mn adults in the UK, or 64 per cent, have at least one credit card, according to price comparison website Money.co.uk....
...“Wild how my dad is the one holding $HOOD and not me. I just reserved my spot for their credit card....
...In 2019, Dimon tapped Piepszak to become chief financial officer of the whole bank before promoting her to run the Chase business alongside Lake. Internally, they’ve tried to present a united front....
...Live On Crypto, an alt-coin issuer that says it supports food banks, bought space on CoinTelegraph last week to advertise that its gift-card shop asks for “no personal information on sign-up and checkout...
...In today’s newsletter: Trump’s Spac for Truth Social Altice vs creditors Carvana used car miracle DWAC: the Spac that could save Trump There is one person who holds a trump card in the deal between...
...Despite being the number six US bank by size, it only has a sixth of JPMs assets. It is still basically a regional bank, albeit a big one....
...But banks led by JPMorgan Chase lobbied hard to underwrite a financing over the past four months....
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