JPMorgan Chase CEO Jamie Dimon said Monday that markets and central bankers underappreciate the risks created by record U.S. deficits, tariffs and international tensions. Dimon, the veteran CEO and chairman of the biggest U.S. bank by assets, explained his worldview during his bank’s annual investor day meeting in […]
Markets are too complacent about tariffs, deficits Read More »
Swedish fintech firm Klarna will be the exclusive provider of buy now, pay later loans for Walmart, taking a coveted partnership away from rival Affirm, CNBC has learned. Klarna, which just disclosed its intention to go public in the U.S., will provide loans to Walmart customers
Klarna, nearing IPO, plucks lucrative Walmart fintech partnership from rival Affirm Read More »
For years, American financial companies have fought the Consumer Financial Protection Bureau — the chief U.S. consumer finance watchdog — in the courts and media, portraying the agency as illegitimate and as unfairly targeting industry players. Now, with the CFPB
Here’s why banks don’t want the CFPB to disappear Read More »
The Consumer Financial Protection Bureau’s Trump-appointed leadership plans to fire nearly all its 1,700 employees while “winding down” the agency, according to testimony from employees. In a trove of statements released late Thursday, federal employees said that the mass layoff was discussed in
JPMorgan Chase CEO Jamie Dimon on Monday said the U.S. government is inefficient and in need of work as the Trump administration terminates thousands of federal employees and works to dismantle agencies including the Consumer Financial Protection Bureau. Dimon was asked by CNBC’s Leslie Picker
Banks that issue credit cards used by millions of consumers raised interest rates and introduced new fees over the past year in response to an impending regulation that most experts now believe will never take effect. Synchrony and Bread Financial, which specialize in
For 15 years, former Texas schoolteacher Kayla Morris put every dollar she could save into a home for her growing family. When she and her husband sold the house last year, they stowed away the proceeds, $282,153.87, in what they
Thousands of Americans see their savings vanish in Synapse fintech crisis Read More »
The Consumer Financial Protection Bureau on Thursday issued a finalized version of a rule saying it will soon supervise nonbank firms that offer financial services likes payments and wallet apps. Tech giants and payments firms that handle at least 50 million transactions annually will
JPMorgan Chase has begun suing customers who allegedly stole thousands of dollars from ATMs by taking advantage of a technical glitch that allowed them to withdraw funds before a check bounced. The bank on Monday filed lawsuits in at least three federal courts,
Morgan Stanley is expanding the use of OpenAI-powered, generative artificial intelligence tools to its vaunted investment banking and trading division, CNBC has learned. The firm, which launched an AI assistant based on OpenAI’s ChatGPT technology to its wealth management advisors in early 2023,
Morgan Stanley expands OpenAI-powered chatbot tools to Wall Street division Read More »
