Bank of America may ask a court to resolve the Consumer Financial Protection Bureau’s (CFPB) investigation of the bank’s processing of payments through the Zelle network. The bank said in a Tuesday (Oct. 29) filing with the Securities and Exchange Commission (SEC) that it has...
Machine learning algorithms scan millions of transactions in banks’ fraud detection centers, flagging suspicious patterns human analysts might miss. Similar mathematical models help Netflix predict which shows subscribers want to watch next and guide Walmart’s inventory decisions. These are examples of artificial intelligence (AI) models...
As is always the case when Wall Street heavy hitters weigh in with earnings, the markets and financial trade publications parse the data and management commentary for insight on investment banking. For Goldman Sachs, the latest earnings report on Tuesday (Oct. 15) offered variations on...
From the state taxing authorities to the state administrators who disburse federal funds to the local utility companies, state and local governments distribute trillions of disbursements every year to their citizens. But paper checks still abound, and the overwhelming majority of those citizens rate their...
October 11, 2024
As 2024 draws to a close, and as evidenced by management remarks and data in the latest earnings results from JPMorgan Chase, posted on Friday (Oct. 11), consumer spending, in the words of CFO Jeremy Barnum, is seeing a period of “normalization” as consumers are on “solid footing.” Spending growth is still growth. “I think […]
October 02, 2024
The private credit market is booming — and has the potential to reshape lending, and risk, too, in financial services. Generally and conceptually speaking, the private lending market, estimated by...
July 22, 2024
T.S. Eliot wrote that the world would end not with a bang but a whimper. It may be the case that the unstoppable wave of consumer spending may end that...
May 28, 2024
Following a trend that has been predicted since JPMorgan Chase announced Chase Media in early April, PayPal has announced the creation of a new advertising division, PayPal Ads, which aims...
November 06, 2024
Despite reports of Republicans and Democrats naming him as a possible nominee for U.S. Treasury secretary, there’s an “almost nil” chance that JPMorgan Chase CEO Jamie Dimon will leave the bank, a source told Reuters. Dimon, 68, who has led the banking giant for nearly 19 years, made his intention to stay known during a […]
October 30, 2024
Bank of America may ask a court to resolve the Consumer Financial Protection Bureau’s (CFPB) investigation of the bank’s processing of payments through the Zelle network. The bank said in...
October 08, 2024
JPMorgan Chase CEO Jamie Dimon said Tuesday (Oct. 8) that regulators in the U.S. and the U.K. have made it difficult for companies to go public. Speaking in a Bloomberg Television...
October 03, 2024
The world’s biggest companies can’t seem to stop giving OpenAI money. One day after securing $6.6 billion in new funding from an array of tech giants and venture capitalists, the...
