Inflation likely to spark more rate hikes: Boston Fed’s Collins
Although the economy is “resilient” and unemployment remains low, inflation is susceptible to higher fuel costs and AI data-center spending, the president of the regional reserve bank said.
Visa makes progress in China, but still faces hurdles
U.S. payment companies have struggled to gain a foothold in China, but Visa has made progress, receiving approval from the People’s Bank of China to prepare to establish a domestic card clearing business in the world’s largest payment market. But it still has to apply for a full operating license.
Pre-retirees want income planning advice, beyond investment products
Advisors could find a pool of prospects eager for more advice than they tend to get from their 401(k) plans alone.
JPMorgan warns of risks to consumers who rely on AI agents
The rise of AI agents could intensify competition for deposits and customer relationships, according to Chief Financial Officer Jeremy Barnum. But he said the underlying challenges are not new to the nation’s largest bank.
Lenders should weigh risks vs. cost in credit options
Mortgage firms can decide if what the FHFA has given them to size up VantageScore is compelling and may have to make a call on tri-merge alternatives too.
The SBA citizenship rule can shut out borrowers who still qualify
The Small Business Administration’s move to bar businesses with any non-U.S. owners from loan guarantees has created a headache for lenders and borrowers alike. There is a better solution.
Earnings are a reflection of customers as well as banks
Earnings reports deliver a bottom line, but also a status check on the consumer; also, why gambling is bad for banks.
Upgrade is latest fintech to seek ILC charter
Neobank Upgrade has applied for an industrial loan company charter, the latest nonbank financial firm to seek an unconventional bank charter as the administration pushes to bring more of the into the regulatory fold.
Chase should lead the country out of the housing crisis
America’s largest bank has an unpaid leadership tax. By following its own historical example, JPMorganChase can help address the nation’s affordable housing crisis and transform community reinvestment.
How real-time pay is pressuring bank authentication
Lack of federal regulation makes for a patchwork of rules guiding verification and identity risk. Here’s what payment experts say banks can do.