JPMorgan Chase is reportedly changing its forecast for incoming rate cuts from the Federal Reserve as fears that the US is heading toward a recession grip global markets. A series of weaker-than-expected reports on the US economy, including a bleak jobs report, triggered a stock market retreat on Friday. Amid growing fears that the US […]
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JPMorgan Chase and Wells Fargo are refusing to reimburse the vast majority of customers who send their money to scammers, according to a new report. New numbers from the US Senate’s Permanent Subcommittee on Investigations show Chase reimbursed 2% of scams reported on the instant payments network Zelle in 2023. That compares to 4% at […]
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The US national debt is closing in on $35 trillion, triggering a warning to investors from analysts at JPMorgan Chase. According to new data from the Treasury, the total outstanding public debt amounts to $34.99 trillion – or $34,997,540,505,103 to be exact – as of July 25th. That’s up from $32.59 trillion just one year […]
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JPMorgan Chase, Bank of America and Wells Fargo are boosting their financial defenses, preparing for customers to increasingly lose the ability to pay their bills. In their new Q2 2024 reports, the banks say they’re significantly increasing the amount of capital they’re holding to cover potential losses from credit card and loan insolvencies – collectively […]
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A US Senate investigation is shedding light on just how often America’s big banks refuse to reimburse victims of fraud. The Permanent Subcommittee on Investigations says JPMorgan Chase, Wells Fargo and Bank of America collectively refused to reimburse $863 million in Zelle transactions that customers reported as fraud between 2021 and 2023. Specifically, the banks […]
The post JPMorgan Chase, Wells Fargo and Bank of America Refuse To Reimburse $863,000,000 To Customers, Accused of ‘Repeated, Relentless Failure’ To Protect Victims of Fraud appeared first on The Daily Hodl.
Big banks in the US are boosting the amount of cash they’re handing to new customers as the fight for deposits intensifies for the first time in years. JPMorgan Chase and Wells Fargo in particular are battling it out to curb deposit flight triggered by the Federal Reserve’s interest rate hikes, reports the Wall Street […]
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Former President Donald Trump says one of Bitcoin’s biggest critics is warming up to the crypto industry. In a newly-released interview transcript from Bloomberg, Trump says JPMorgan Chase CEO Jamie Dimon’s notoriously negative views on crypto are evolving. “You ask Jamie Dimon, Jamie Dimon was, you know, very negative and now all of a sudden […]
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The global asset manager may be on its way to the forefront of settlement technology.
According to a report, State Street has taken a serious interest in blockchain settlement technology. The global asset manager has been moving slowly into the crypto space, but it may be making a big leap soon.
An unnamed Bloomberg source said State Street is considering creating its own stablecoin and deposit token. In addition, it may leverage its investment in UK-based payment startup Fnality to create new settlement options and join “digital-cash consortium efforts.”
State Street is not blazing new trails in blockchain settlement. JPMorgan launched its Onyx blockchain and stablecoin and the JPM Coin in 2020. Goldman Sachs began trading digitized bonds on the chain the following year. JPMorgan introduced a tokenization platform called the Tokenized Collateral Network in 2023 and added a programmable payments feature months later.
Global investment bank JPMorgan remains optimistic about gold prices, projecting a significant rise in the fourth quarter of 2024 due to anticipated Federal Reserve rate cuts beginning in September. On Tuesday, the price of gold surged past its all-time high, bolstered by the Federal Reserve’s actions and the influence of former U.S. President Donald Trump. […]
A JPMorgan Chase customer says he’s struggled to pick up the pieces after a mysterious malicious actor drained $40,000 from his business account. Jeff Benach says his Chicago housing development business recently hired a Canadian company and ordered some renderings, reports ABC Chicago. Although he didn’t like the results, Benach says he offered to pay […]
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