Banks
BNY raises profit target as CEO Robin Vince says ‘turnaround’ is taking hold
Robin Vince President & CEO BNY Mellon, speaking on CNBC’s Squawk Box at the WEF Annual Meeting in Davos, Switzerland on Jan. 16th, 2024. Adam Galici | CNBC BNY, which calls itself the world’s largest custody bank, is raising a pair of key performance targets as CEO Robin Vince says a turnaround that began when he […]
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JPMorgan Chase says banks could fight Trump credit card rate cap: ‘Everything’s on the table’
JPMorgan Chase CFO Jeremy Barnum hinted Tuesday the industry could fight President Donald Trump’s demand for credit card price controls, saying “everything’s on the table.” “If you wind up with weakly supported directives to radically change our business that aren’t justified, you have to assume that everything’s on the table,” Barnum said in a call […]
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JPMorgan Chase is set to report fourth-quarter earnings – here’s what the Street expects
Key Points JPMorgan Chase reports fourth-quarter earnings before the market open Tuesday. Wall Street expects earnings of $5 a share and revenue of $46.2 billion, according to LSEG. JPM executives will host a call with analysts at 8:30 a.m. ET. Source
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Trump targets credit card rates. What’s at stake for Capital One and other banks
Capital One shares dropped more than 6% on Monday after President Donald Trump targeted a key way that our favorite credit card issuer makes money. The weakness in Capital One followed Trump’s call for a one-year, 10% cap on credit card rates to take effect on Jan. 20. In his Truth Social post late Friday […]
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Trump’s credit card rate cap plan has unclear path, ‘devastating’ risks, bank insiders say
Key Points Trump proposed a one-year 10% cap on the interest rates that American credit card companies can charge customers. Shares of Citigroup, JPMorgan Chase, Wells Fargo, Bank of America, Visa, Mastercard, American Express and Capitol One fell in response. It’s unclear how the cap would be enforced, and bank industry insiders say it would […]
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JPMorgan’s looming question: What happens when CEO Jamie Dimon leaves?
As Wall Street’s top bankers huddled in New York last month, preparing to convince Elon Musk’s SpaceX that they should be chosen to lead its upcoming IPO, one firm wasn’t letting its star advisor miss the bake-off. Among the squad of JPMorgan Chase investment bankers flying 2,500 miles west to California to pitch SpaceX was […]
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JPMorgan’s asset management will no longer use controversial proxy advisors for shareholder votes
Key Points JPMorgan said its asset management unit is fully eliminating the use of proxy advisors. The firm will instead use artificial intelligence to aggregate and analyze proxy data. Source
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JPMorgan forms special advisory group to share some of bank’s ‘secret sauce’ with clients
Key Points JPMorgan launched its Special Advisory Services initiative Monday, which is aimed at providing key clients with access to consulting services drawn from the investment bank’s own practices. The new effort will be led by Liz Myers, who also serves as global chair of investment banking. The company has identified several dozen adjacent capabilities […]
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Europe’s banks have had a stellar year. Now they face one big question in 2026
Key Points Europe’s banking sector has flourished in 2025, with lenders notching their strongest annual showing since 1997. Now, after a strong third-quarter earnings season, banks must decide how and where to put their “significant” excess capital to work in 2026. Strategists see the sector as a strong diversification play for investors in 2026. Source
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Trump administration must fund U.S. consumer finance watchdog, judge says
A view of the Consumer Financial Protection Bureau (CFPB) headquarters building in Washington, DC, on Feb. 10, 2025. Saul Loeb | AFP | Getty Images A federal judge on Tuesday rejected a claim by President Donald Trump’s administration that it is legally barred from securing funding for the U.S. Consumer Financial Protection Bureau, noting that […]
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