JPMorgan Chase

JPMorgan Chase is asking thousands of U.S. employees to work from home as it tests a contingency plan for closing domestic offices should the coronavirus spread, according to people with knowledge of the matter.

The Massachusetts senator and presidential candidate sent a letter to CEOs of five of the largest U.S. banks asking about their response to the outbreak.

Demand for home loans has been strong in recent months and is expected to increase coronavirus fears push rates lower.

Gill Haus oversaw efforts to transform Capital One from a bank to a software company by upgrading legacy technologies, moving systems to the cloud and experimenting with different ways of using data.

As the COVID-19 virus spreads globally, many U.S. financial institutions are said to be taking steps to protect employees and minimize disruption. But only a handful are sharing specifics, to avoid contributing to any public panic.

Fintechs like LendingClub and Varo Money illustrate how the traditional financial system is changing. Banks that don’t rapidly evolve with technology will be obsolete.

Executives outlined changes in energy lending policies, said that the largest U.S. bank has only scratched the surface in middle-market credits and discussed their preparations in case of an economic slowdown.

Jennifer Piepszak, JPMorgan's chief financial officer, said the largest U.S. bank planned to borrow funds through the Federal Reserve's emergency lending facility in an exercise designed to break the stigma attached to that program.

With interest rates and unemployment at rock-bottom lows and home values rising, the part of JPMorgan's retail business that sells home loans to consumers made money last month, marking the first profitable January in five years, according to people familiar with the matter.

The author of a recent op-ed fails to realize that making credit unions pay corporate taxes would drive up costs for customers and weaken the economy.