JPMorgan Chase

Bill Clerico created WePay during the last financial crisis, and sees a similar opportunity now. The coronavirus pandemic is affecting different markets in vastly different ways, and easing the flow of capital is just one way to provide help.

TD Bank has hired Jyotsana “Jo” Jagadish to head commercial operating products and payment innovation, where she will oversee TD’s expanding fintech partnerships.

The Federal Reserve, U.S. Mint and financial industry representatives are strongly considering a public call for Americans to deposit their spare change, among other fixes, to get coins circulating again. Meanwhile, banks of all sizes are getting creative at the local level.

The national conversation around systemic racism has compelled large banks to withdraw support from the “disparate impact” proposal. But community banks maintain that the proposed reforms would reduce frivolous claims.

The New York bank has also joined a steering committee helping to develop a global accounting standard that financial institutions can use to measure their impact on global warming.

The Minneapolis company said 75% transactions have been handled online since the pandemic hit.

Net charge-offs fell at Citigroup and Wells Fargo, thanks to forbearance and federal stimulus. Leaders of those banks are warning that delinquencies could rise once the benefits of those programs wear off.

Megabanks like JPMorgan Chase boosted loan-loss provisions to record levels in the second quarter in preparation for what could be a wave of loan defaults.

JPMorgan Chase is one financial institution that plans to test Google Cloud’s new Confidential Computing product.

The country's largest bank said second-quarter profit fell 51% to $4.69 billion, a smaller drop than forecast, as record trading revenue helped counter the biggest loan-loss provision in its history.