by Ken Chase | Jul 25, 2022 | Banks, Market
By: Ken Chase. Citi’s focus on transforming its business processes and services saw the firm increase its technology spending by 14 percent in the second quarter of 2022, according to statements from CFO Mark Mason in the company’s most recent earnings call. That...
by Ken Chase | Jul 25, 2022 | Banks, Market
By: Ken Chase. While most major banks across the United States have raised their loan rates to adjust for recent Federal Reserve interest rate increases, credit unions and some large lenders have worked to maintain their lower rates for auto loans. That aggressive...
by Ken Chase | Jul 18, 2022 | Banks, Market
By: Ken Chase. Jamie Dimon, CEO of banking giant JPMorgan Chase, offered his latest assessment of the U.S. economy this week, as part of the company’s most recent quarterly release. While he acknowledged that the current trends include a seemingly healthy jobs market...
by Ken Chase | Jul 15, 2022 | Banks, Market
By: Ken Chase. The Consumer Financial Protection Bureau (CFPB) and Office of the Comptroller of the Currency (OCC) levied fines against Bank of America this week for its failure to properly disburse state unemployment benefits during the Covid-19 pandemic. In a press...
by Ken Chase | Jul 15, 2022 | Banks, Market
By: Ken Chase. The U.S. House of Representatives passed the Secure and Fair Enforcement (SAFE) Banking Act on July 14, after it was added as an amendment to the 2023 National Defense Authorization Act (NDAA). If passed by the Senate, the SAFE Act would prevent federal...
by Ken Chase | Jul 5, 2022 | Banks, Market
By: Ken Chase. With Federal Reserve Chairman Jerome Powell declaring last week that the Fed will not allow inflation to become a long-term problem in the U.S., some experts are now anticipating new interest rate hikes that may prove challenging for the nation’s...
