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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...
...The effort pertains to JPMorgan’s loan portfolio around products at Chase, its retail business, including mortgages, auto lending and credit card loans, these people said....
...Capital One Financial, which is buying rival Discover Financial Services, is up 50 per cent. Americans held more than $1.1tn on their credit cards at the end of 2023, an all-time high....
...The Delaware-registered lifestyle brand offered “solid gold”, sometimes bejewelled, cards to clients....
...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....
...Capital One and Discover are two of the biggest credit card lenders, behind JPMorgan Chase and Citigroup....
...EP’s working with JPMorgan Chase, Citigroup and BNP Paribas, while Royal Mail’s owner is working with Goldman Sachs, Bank of America and Barclays....
...Several of the bank’s businesses — including credit cards and corporate transaction services — did better than expected in a quarter that many thought would be marred by the upheaval of the restructuring...
...That suggests Tenev and his team have further to go in convincing everyone of Robinhood’s ability to become a financial services behemoth....
...The upshot is the AI technology does the work of 700 of its 3,000 customer service jobs. Some parts of the market have already woken up to the potential....
...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...
...Other top banks Citigroup, JPMorgan Chase and Wells Fargo also recorded drops in lending in the first three months of the year as they revealed results late last week....
...She moved over to the consumer banking side of the company, where she ran card services and was finance chief for mortgage banking....
...“We’ve seen an increase in the number of crypto scams targeting UK consumers, so we have taken the decision to prevent the purchase of crypto assets on a Chase debit card or by transferring money to a crypto...
...Sujeet Indap Texas is a wild card. They’ve started a new corporate court....
...His first employment was at the Wilmington zoo, but his first big job was at MBNA, the Delaware-based credit card company....
...Despite this, in recent days executives from the country’s four largest banks — JPMorgan Chase, Bank of America, Citigroup and Wells Fargo — said during earnings calls that consumers were resilient....
...Soundbite of the week: “If I were to purchase a Pokémon card, is that a security transaction?”...
...HSBC’s push into fintech also follows a foray by US-based investment bank JPMorgan into the UK’s digital banking market with the launch of Chase UK in 2021, as the Wall Street bank sought to compete with...
...After losing the Delaware case, Ader said he intended to pursue monetary damages “vigorously” against Universal on behalf of investors in Capital 26, which has now liquidated....
...Two scoops to start, first: JPMorgan Chase spent more than 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...
...All five of Citi’s core businesses — corporate lending; credit cards and US consumer banking; transaction services; buying and selling stocks and bonds; and private banking — posted rising sales....
...“I’m a big believer in the importance of financial services and Goldman Sachs is a great institution....
...Nearly 70 per cent of New Castle County, where the trial is taking place, voted for Biden, and “even conservative jurors in Delaware are likely to have some respect for [Biden, a former US senator from Delaware...
...In a sign of the better than expected credit environment for US consumers, JPMorgan cut its outlook for the net charge-off rate at its card services business from 2.6 per cent to about 2.5 per cent....
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