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The measures will make certain activities such as mortgages and small-business lending harder for banks, Dimon said.
August 2 -
Consumers with the Apple Card deposited more than $10 billion in Apple Card's high-yield savings account that Goldman Sachs provides, the technology giant said.
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Harborstone Credit Union in Lakewood, Washington, plans to take over the Seattle Bank, which scuttled a deal to sell to BM Technologies last year.
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While it's still relatively early to tell how much — if at all — the muni market will be impacted, Kara South, portfolio manager at GW&K Investment Management, said downgrades of certain municipal bonds are likely to follow.
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The fintech lender says its loans are meeting a need for people living paycheck to paycheck that the mainstream financial community is not, and that its loans cost far less than subprime credit cards or payday loans.
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Regulators remain skeptical toward digital assets in the wake of major crypto-industry partner-bank failures, but in the absence of legislative direction, oversight of crypto is largely left to the Securities and Exchange Commission. The SEC's approach has been aggressive, but its authority has been muddied by recent court decisions.
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Investors should expect "consistency, predictability," says COO Tyler Wilcox, who is scheduled to take over for longtime CEO Chuck Sulerzyski when he retires next spring.
August 2 -
This week in global news: Ripple is working with the Pacific island nation of Palau on a stablecoin test, Klarna is dropping the Kosma brand from its open banking service, and more.
August 2 -
Competition in the earned wage access arena is leading to more innovation — and emphasizing the need for regulation, according to a new report from Harvard University researchers.
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In 18 states, consumers are not allowed to use trained debt resolution professionals to seek relief from their creditors. That needs to change.
August 2American Association for Debt Resolution