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Jamie Dimon says U.S. consumers are ‘coiled, ready to go’ with $2 trillion more in checking accounts

Jamie Dimon says U.S. consumers are 'coiled, ready to go' with $2 trillion more in checking accounts
Government stimulus programs aimed at reducing suffering during the coronavirus pandemic have left consumers flush with savings – and that bodes well for the economic recovery under way, according to JPMorgan Chase CEO Jamie Dimon. One of the sole areas of weakness in JPMorgan's first...

Wells Fargo earnings top estimates on $1.05 billion release of loan loss reserves

Wells Fargo earnings top estimates on $1.05 billion release of loan loss reserves
Wells Fargo CEO Charles Scharf listens during the Milken Institute Global Conference in Beverly Hills, Calif., on April 30, 2019. Kyle Grillot | Bloomberg | Getty Images Wells Fargo reported earnings and revenue that beat expectations for its first-quarter on Wednesday. Here's how the results stacked up...

Earnings season should boost hot financial stocks, RBC’s top bank analyst predicts

Earnings season should boost hot financial stocks, RBC's top bank analyst predicts
One of the year's hottest trades may get a boost from earnings season. RBC Capital Markets' Gerard Cassidy expects financials to exceed Wall Street expectations when they start reporting this week. "The big beats are likely to come from the loan loss reserve releasing numbers," the...

How JPMorgan increased the number of Black interns in its Wall Street program by nearly two-thirds

How JPMorgan increased the number of Black interns in its Wall Street program by nearly two-thirds
JPMorgan Chase boosted the number of Black and female college students selected for investment bank internships by leaning on technology platforms that help the firm broaden out its campus recruiting efforts, CNBC has learned. The company said that 18% of its corporate and investment bank...

British fintech start-up TrueLayer raises $70 million to take on Visa and Mastercard

British fintech start-up TrueLayer raises $70 million to take on Visa and Mastercard
Francesco Simoneschi, CEO and co-founder of U.K. fintech start-up TrueLayer. TrueLayer LONDON — British financial technology start-up TrueLayer says it's raised $70 million in fresh funding, highlighting continued appetite from investors for fast-growing fintech firms. TrueLayer lets fintech apps like Revolut and Freetrade connect with customers' bank...

AmEx’s purchase of online lender Kabbage left desperate PPP borrowers in the cold

AmEx's purchase of online lender Kabbage left desperate PPP borrowers in the cold
Close-up of logo for finance company Kabbage on paper on a light wooden surface, June 13, 2019. Smith Collection/Gado | Archive Photos | Getty Images When the pandemic shut down Dawn Lindsay's family carpet cleaning business last year, the U.S. government's paycheck protection program provided a...

Jamie Dimon says economic boom fueled by deficit spending, vaccines could ‘easily run into 2023’

Jamie Dimon says economic boom fueled by deficit spending, vaccines could ‘easily run into 2023’
Jamie Dimon is bullish on the U.S. economy – at least for the next few years. Dimon, the long-serving JPMorgan Chase CEO and chairman, sees strong growth ahead for the world's biggest economy, thanks to the U.S. government's response to the coronavirus pandemic that has...

Morgan Stanley dumped $5 billion in Archegos’ stocks the night before massive fire sale hit rivals

Morgan Stanley dumped $5 billion in Archegos’ stocks the night before massive fire sale hit rivals
The night before the Archegos Capital story burst into public view late last month, the fund's biggest prime broker quietly unloaded some of its risky positions to hedge funds, people with knowledge of the trades told CNBC. Morgan Stanley sold about $5 billion in shares...

Goldman’s risk controls worked well during Archegos fire sale, CEO Solomon says

Goldman's risk controls worked well during Archegos fire sale, CEO Solomon says
Goldman Sachs CEO David Solomon said Tuesday his bank's risk management systems performed well after the forced unwinding from a highly levered fund tanked several stocks in the U.S. and China and took a multibillion dollar bite out of other banks. Shares of Discovery and...