JPMorgan Chase

In his annual letter to shareholders, JPMorgan Chase CEO Jamie Dimon wrote that the bank has identified more than 400 use cases for artificial intelligence across marketing, fraud and risk. It has also amassed thousands of AI experts and data scientists and begun exploring deploying generative AI.

The first major hurdle arises for lenders that approach $100 billion in assets. That's when they have to deal with a key regulatory threshold, becoming so-called Category IV banks, which are subject to stiffer capital rules and oversight.

Peter Doelger, 86, and his wife, Yoon's losses are testing whether Wall Street firms can be held responsible for what happens if clients lose the ability to understand their investments.

With the movement to clean energy under way in most industries, banks are paying closer attention to their clients' plans.

The credit bureau's Argus unit collected the bank's credit card data on behalf of regulators, then used it in the benchmarking service it sells to other banks, the bank says. The suit comes at a time when bank data is becoming increasingly open, at least in theory.

The two megabanks have agreed to release a ratio that measures their level of financing for low-carbon energy versus fossil fuels. The banks' moves follow pressure regarding climate change from entities associated with New York City's local government.

Barclays has long faced questions from investors about the viability of its Wall Street operations because the investment bank consumes more capital than other, higher-returning divisions across the firm.

The Federal Reserve and the Office of the Comptroller of the Currency both cited the nation's largest bank for having "inadequate" policies around firm and client trading activities.

Monzo raises a $430 million investment to accelerate its expansion in the U.S.; Stripe adds support for Tap to Pay on iPhone; and more in this week's global payments news roundup.

The bank has also hired some analysts to its infrastructure group over the past several weeks as it plans to beef up its muni team.

Anu Aieyengar, Global head of M&A at JPMorgan discusses her career and her outlook for M&A activity in the year ahead.

Truist has made about 20 hires including bankers, traders, and sales personnel from Wells Fargo, Hilltop Securities and T. Rowe Price, to build up its muni team.

The hiring of Viswas Raghavan as Citi's head of banking is the latest move by the global bank to attract talent from rivals. His departure set off more leadership tweaks at JPMorgan Chase.

The New York bank's AI research group has published 400 papers, according to new research from Evident; TD Bank Group's Layer 6 unit published 14 last year. These groups work to solve real-life problems in the business units.

Amid an upturn in deposits, banks are searching for ways to put this new cash to work. The traditional option — boosting lending — is hard to do right now. That's left banks to park more money in high-quality securities that they believe will boost returns without heaping on too much credit risk.

The bank is arguing in court with Viva founder Haris Karonis over whether it hindered the fintech's growth. The allegations strain a relationship that was already pressured by inflation and other economic factors.

The departures are occurring during a period of heightened U.S. political backlash against the environmental, social and governance investing strategy. Republican officials across the country have launched investigations into banks and asset managers, introduced anti-ESG laws and pulled funds from firms such as BlackRock, which championed sustainable investing.

A Delaware chancery court judge ruled that JPMorgan's obligation to cover the costs of Javice's defense in its fraud suit against her, as well as a separate criminal prosecution, didn't extend to her claims that the bank wrongly terminated her roughly a year after it bought Frank, her college financial planning startup.

Wells Fargo's Charlie Scharf and Morgan Stanley's James Gorman recorded the biggest gains among the CEOs whose compensation has been disclosed so far.

With countless fintechs nipping at its heels, the bank is working harder to be a one-stop shop for e-commerce, retail store management, payments and authentication.