The likelihood of Fed rate cuts is causing banks to plan for less net interest income, but it would be a mistake for JPMorgan to back off its move into new markets and tech investments, Jamie Dimon says.

The company revealed its pretax losses for its forays into consumer and other digital banking services, which began in 2016 with the launch of a consumer deposit franchise and an installment loan product.

Respondents rated their chances of reaching the American Dream lower this year than they did in the fall amid talk of a potential recession.

The Connecticut company will add heft in its home state and Massachusetts when it buys the former mutual.

The company could rein in deposit costs, cut operational expenses and buy back more shares in anticipation of a Federal Reserve rate reduction. Other banks — especially big ones — could do the same.

Piermont Bank, set to open this week, will be the city's second new bank this year.

The company, based in Charleston, S.C., will buy Carolina Trust in western North Carolina for $100 million.

Hispanics are underserved by mainstream financial institutions, creating an opportunity for credit unions to step in and fill the void.

Noninterest expenses fell 2% to $10.5 billion — almost $100 million lower than the average estimate from analysts.

Other executives are being considered, too, but the list is dwindling as JPMorgan’s Gordon Smith and other big names are said to be out of the running. Meanwhile, senior Wells executives have pushed to keep interim CEO Allen Parker.

Readers react to the Fed warming up to CRA reforms, criticize the Democratic presidential candidates, defend Pittsburgh as a megabank attraction and more.

As more credit unions deploy mobile video banking, some observers say if credit unions don’t hop on board now they could be left behind in the next few years.

The Gramm-Leach-Bliley Act is a successful privacy law that ought to govern all financial services providers, not just banks.

A growing number of credit unions are moving their headquarters to revitalized urban areas, and while some say that could help recruit new staff, it also carries the risk of being associated with gentrification.

Ribbon-cuttings for de novos have become more common as regulators have warmed up to the idea of granting new charters. These are the banks that have opened this year, along with more that are on track to do so.

Interest rates on CDs of six-months or longer have declined since a Federal Reserve meeting in June, according to Moebs Services.

Pierre Habis, president of PurePoint Financial, explains how the digital bank and small network of paperless branches are meeting consumers’ needs.

Despite declining foot traffic, consumers still say they want access to a branch, and credit unions can make these spaces attractive with new twists.

Community banks need to focus more on how their employees talk about the bank and less on new competition moving in.