JPMorgan Chase
Big Bank Quarterly Results Show Signs of Consumers Slowing Down Spending
JPMorgan set aside $3.1 billion to cover potentially bad loans, up sharply from a year earlier, as the bank acknowledged that delinquencies were climbing. read more >
by Associated Press -
Banks Upbeat on US Consumer Despite Bank Profit Declines, Inflation and Rising Debt Levels
The biggest banks in the country posted strong profits last year, helped by higher interest rates and a strong economy, despite having to deal with the lingering industry costs of last year's banking crisis that caused the collapse of Silicon Valley Bank and Signature Bank. read more >
by Associated Press -
Banks’ Growing Reliance on Chatbots to Handle Customer Service Worries Consumer Watchdog
Poorly designed chatbots could run afoul of federal laws that govern how debts are collected or how personal information is being used. read more >
by Associated Press -
JPMorgan Works On NWA Network
The $3.2 trillion-asset lender is now pursuing a Bentonville location instead of Rogers. read more >
by George Waldon -
2 Promoted at FNBC (Movers & Shakers)
Allan Baldridge and Garrett Kissinger have both been promoted. read more >
First Republic Bank Seized, Sold to JPMorgan Chase
San Francisco-based First Republic is the third midsize bank to fail in two months. It is the second-biggest bank failure in U.S. history, behind only Washington Mutual, which collapsed at the height of the 2008 financial crisis and was also taken over by JPMorgan. read more >
by Associated Press -
Bank CEOs Increasingly Turning Pessimistic on Economy
Reflecting the dimmer macroeconomic view, Citigroup, Wells Fargo and JPMorgan socked away cash in their loan-loss reserves. read more >
by Associated Press -
Banking & Finance / Construction / Health Care / Insurance / Manufacturing / Public Companies / Retail / Transportation
CEO Pay Rose 17% in 2021 as Profits Soared; Workers Trailed
The median pay for top execs was $14.5 million, boosted in many cases by soaring stock prices. read more >
by Associated Press -
Bank Overdraft Fees Fading
Once a big source of income, overdraft protection fees fall out of step in banking. read more >
Banks Slowly Reconsider Overdraft Fees, Amid Public Pressure
Through the first nine months of this year, overdraft revenue totaled $6.13 billion. read more >
by Associated Press -
Chenal Bank Branch Growth Elevates Field of Competition
Branching activity in west Little Rock is transforming a one-mile stretch of Chenal Parkway into a banker’s boulevard. read more >
by George Waldon -
Women CEOs Saw Ranks Dwindle in 2020; Median Pay Fell 2%
Most of the women running the biggest U.S. companies saw their pay increase last year, even as the pandemic hammered the economy and many of their businesses. read more >
by -
Banks to See Big Profits As COVID ‘Bad’ Loans Become ‘Good’
The nation’s largest banks are expected to report big profits for the first quarter amid renewed confidence that pandemic-battered consumers and businesses can repay their debts and start borrowing again. read more >
by -
Corporations Become Unlikely Financiers of Racial Equity
In the months since the police killing of George Floyd sparked a racial reckoning in the United States, American corporations have emerged as an unexpected leading source of funding for social justice. read more >
by -
That Rainy-Day Fund (Gwen Moritz Editor’s Note)
Who doesn’t have two months of income in ready cash? Most Americans. Even some of you who read Arkansas Business. read more >
by Gwen Moritz -
Doug McMillon Named Chairman of Business Roundtable
The Business Roundtable, a group of CEOs of America's top companies, says Walmart CEO Doug McMillon has been named chairman, succeeding JPMorgan Chase & Co. CEO Jamie Dimon. read more >
by Lance Turner -
As Interest Rates Rise, Banks Are Paying More For Deposits
For years after the recession, banks paid next to nothing on deposits — much to the detriment of savers everywhere. Now, banks have increased lending and need more deposits, so they're willing to pay higher interest rates. read more >
by Associated Press -
10 Banks Agree to Pay $8.5B for Foreclosure Abuse
Ten major banks and mortgage companies have agreed to pay $8.5 billion to settle complaints that they wrongfully foreclosed on homeowners who should have been allowed to stay in their homes. read more >
by Associated Press -