#breakingnewsglobal

[bengalbytes]

Jamie Dimon says JPMorgan is hoarding cash because 'very good chance' inflation is here to stay

Jamie Dimon says JPMorgan is hoarding cash because ‘very good chance’ inflation is here to stay

Jamie Dimon, CEO of JP Morgan Chase, speaking at the Business Roundtable CEO Innovation Summit in Washington, D.C. on Dec. 6th, 2018.  Janvhi Bhojwani | CNBC Jamie Dimon believes cash is king – at least for the time being. JPMorgan Chase has been “effectively stockpiling” cash rather than using it to buy Treasuries or other investments because of the possibility higher inflation will force the…

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[youthchronical]

Synapse bankruptcy trustee says $85 million of customer savings is missing in fintech meltdown

Jelena McWilliams, chair of the Federal Deposit Insurance Corporation (FDIC), during a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, D.C., U.S., on Tuesday, Aug. 3, 2021. Al Drago | Bloomberg | Getty Images There is an $85 million shortfall between what partner banks of fintech middleman Synapse are holding and what depositors are owed, according to the…

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[youthchronical]

Jamie Dimon says JPMorgan stock is too expensive: 'We're not going to buy back a lot'

Jamie Dimon, CEO of JPMorgan Chase, testifies during the Senate Banking, Housing and Urban Affairs Committee hearing titled Annual Oversight of Wall Street Firms, in the Hart Building on Dec. 6, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images Jamie Dimon thinks shares of JPMorgan Chase are expensive. That was the message the bank’s longtime CEO gave analysts Monday during JPMorgan’s…

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[youthchronical]

JPMorgan CEO Jamie Dimon signals retirement is closer than ever

Jamie Dimon, chief executive officer of JPMorgan Chase & Co., at the UK Global Investment Summit at Hampton Court Palace in London, UK, on Monday, Nov. 27, 2023.  Bloomberg | Bloomberg | Getty Images Jamie Dimon‘s days as CEO of JPMorgan Chase are numbered — though its unclear by how much. In a response to a question Monday about the bank’s succession planning, Dimon indicated that his expected…

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[youthchronical]

The rule capping credit card late fees at $8 is on hold — here’s what it means for you

Rohit Chopra, director of the Consumer Financial Protection Bureau, speaks during a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, D.C., Dec. 15, 2022. Ting Shen | Bloomberg | Getty Images The U.S. banking industry won a key victory in its effort to block the implementation of a Consumer Financial Protection Bureau rule that would’ve drastically limited the fees that…

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[youthchronical]

Citigroup CEO Jane Fraser says low-income consumers have turned far more cautious with spending

Citigroup CEO Jane Fraser said Monday that consumer behavior has diverged as inflation for goods and services makes life harder for many Americans. Fraser, who leads one of the largest U.S. credit-card issuers, said she is seeing a “K-shaped consumer.” That means the affluent continue to spend, while lower-income Americans have become more cautious with their consumption. “A lot of the growth in…

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[youthchronical]

NYCB shares jump after new CEO gives two-year plan for "clear path to profitability"

A New York Community Bank stands in Brooklyn, New York City, on Feb. 8, 2024. Spencer Platt | Getty Images New York Community Bank on Wednesday posted a quarterly loss of $335 million on a rising tide of soured commercial loans and higher expenses, but the lender’s stock surged on its new performance targets. The first-quarter loss, equal to 45 cents per share, compared to net income of…

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[youthchronical]

JPMorgan Chase is caught in U.S-Russia sanctions war after overseas court orders $440 million seized from bank

JPMorgan Chase CEO and Chairman Jamie Dimon gestures as he speaks during the U.S. Senate Banking, Housing and Urban Affairs Committee oversight hearing on Wall Street firms, on Capitol Hill in Washington, U.S., December 6, 2023.  Evelyn Hockstein | Reuters A Russian court sided with state-run lender VTB Bank in its efforts to recoup $439.5 million from JPMorgan Chase that the American lender…

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