All articles tagged with #jpmorgan
JPMorgan Chase CEO Jamie Dimon warned at Davos that President Trump’s plan to cap credit-card interest at 10% for a year would be an economic disaster, potentially stripping credit from up to 80% of Americans and dampening consumer spending; his stance was echoed by JPMorgan CFO Jeremy Barnum and other bankers, as Trump pushes the policy amid a $5 billion lawsuit accusing JPMorgan of de-banking him.
Former President Donald Trump filed a lawsuit against JPMorgan Chase and CEO Jamie Dimon, alleging the bank abruptly closed his accounts in February 2021 and sought to blacklist him from other banks in the weeks after the January 6 Capitol attack; he is seeking at least $5 billion in damages.
Former President Donald Trump has filed a $5 billion lawsuit against JPMorgan Chase, alleging the bank closed his accounts for political reasons after the Jan. 6 riot.
JPMorgan Chase is acquiring WealthOS, a pensions technology platform, to bolster its retirement planning and personal investing services; the deal price is undisclosed and WealthOS operates with teams in the UK and Sri Lanka. The move follows JPMorgan's Nutmeg acquisition (now JP Morgan Personal Investing), which serves about 275,000 UK customers.
At Davos, Jamie Dimon largely sidestepped criticism of President Trump on most policies, but he called Trump’s proposed one-year 10% cap on credit-card interest an “economic disaster,” warning it would remove credit from about 80% of Americans and suggesting a state-by-state pilot before a nationwide rollout. He cautioned the policy would hurt consumers and local governments, and doubted it could pass Congress. Dimon also urged government action to cushion AI-driven job losses and advocated a slower, more collaborative approach to AI disruption, including retraining incentives, while avoiding binary judgments on foreign policy.
President Trump says he plans to sue JPMorgan Chase within two weeks over alleged improper debanking after January 6, while denying a Wall Street Journal report that he offered Jamie Dimon the Federal Reserve chair role, tying the dispute to his broader critique of banks' political bias.
President Trump says he will sue JPMorgan Chase for allegedly closing his accounts after the Jan. 6 Capitol attack, labeling it debanking, while JPMorgan and Bank of America deny political motives. Trump also denied offering Jamie Dimon the Federal Reserve chair, a claim Dimon rejected. The report also notes ongoing Fed independence concerns as Chair Powell disclosed a DOJ subpoena related to his testimony amid a broader investigation.
Despite high hopes for billion-dollar megadeals, the JPMorgan Healthcare Conference yielded no major announcements as rumors faded and companies staggered disclosures for other events; the shift to virtual meetings post-COVID and a thinner payer presence have shifted focus from blockbuster disclosures to networking and the biotech industry’s ongoing momentum, with eyes turning to upcoming conferences like TD Cowen in March or Jefferies later in the year for potential deals.
Former FDA oncology chief Richard Pazdur, who left last month, told STAT at the JPMorgan Healthcare Conference that politicization is eroding the FDA’s firewall between political appointees and drug reviewers and that there’s insufficient transparency around a new expedited-review voucher program.
Stock futures drift lower ahead of the 8:30 a.m. ET CPI release as investors digest a busy earnings slate and policy headlines: JPMorgan Chase beat on both lines for Q4, while Delta Air Lines fell about 5% after softer revenue despite EPS beat and strong 2026 guidance; attention remains on a Federal Reserve probe into Chair Jerome Powell despite markets hitting records; Trump floated a 25% tariff on any country doing business with Iran; and Alphabet will power an AI upgrade to Apple's Siri using Gemini models, underscoring ongoing AI momentum in tech.
Old-economy names drive the Dow higher in 2026 (Boeing ~12%, Caterpillar ~12%, Sherwin-Williams ~10%), while Visa and Salesforce drag; JPMorgan beat Q4 estimates fueling premarket gains; other headlines include L3Harris IPO plans, Delta's mixed results, core CPI up 2.6% y/y vs 2.8% expected, Intel/AMD upgrades from KeyBanc on hyperscaler demand, Reddit growth optimism from Evercore ISI, and global central banks defending Powell's independence as Trump imposes a 25% tariff on Iran trade; futures were little changed.
JPMorgan Chase warned that President Trump’s call for a 10% cap on credit-card rates would force a major overhaul of its card business and could harm consumers and the broader economy, with CFO Jeremy Barnum saying the bank would have to significantly change its card operations and that ‘everything is on the table’ to oppose the proposal; industry groups called the measure devastating, and the policy debate contributed to a drop in JPMorgan’s stock as lawmakers consider related legislation like the Credit Card Competition Act.
U.S. banks, especially JPMorgan, are considering re-entering Venezuela's market due to potential opportunities in oil and infrastructure, despite ongoing sanctions and political instability, with JPMorgan potentially leveraging its historical presence and existing infrastructure in the country.
JPMorgan has launched 'Special Advisory Services' to share its expertise on topics like AI and cybersecurity with select clients, aiming to enhance long-term relationships and provide insights comparable to top consulting firms, initially offered free of charge with potential fees for ongoing projects.
JPMorgan claims Charlie Javice's legal bills, totaling $74 million, include excessive charges for attendance and unnecessary expenses during her fraud trial, and is seeking to recover disputed costs and end future payments, amid allegations of abuse and billing misconduct by her law firms.