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Other climate coalitions, like Climate Action 100+, have also seen withdrawals from major firms like JPMorgan, State Street, and Pimco. What this means: The shift comes as the US prepares for a second Trump administration, which is expected to renew opposition to international climate agreements and regulations.

United Airlines鈥� Kinective Media launched with Univision, JPMorgan Chase, and Macy鈥檚 among their initial advertising partners. The airline is also running tests with Live Nation and Ticketmaster to offer event promotions to passengers based on where they are traveling.

The CFPB claims that Bank of America, JPMorgan Chase, and Wells Fargo customers have collectively lost more than $870 million over Zelle鈥檚 seven-year existence due to the banks鈥� inaction.

Learn what Chase and other digital competitors have done to outrank traditional banks.

JPMorgan still leads in AI maturity, according to UK-based intelligence platform Evident Insights. It has prioritized hiring top AI talent鈥攁 costly endeavor. And it鈥檚 testing how genAI can 鈥渃opilot鈥� its private banking advisors by helping them identify important opportunities for their clients.

The bank will start blocking more transactions that originate from social media

Social Security Administration (SSA) Commissioner: Frank Bisignano, Fiserv CEO and former co-COO of JPMorgan, has been tapped for the position, per Payments Dive. Given his tenure in fintech and payment processing, Bisignano's leadership could signal a focus on modernizing the SSA鈥檚 operations and technology.

[Editor鈥檚 Note: An earlier version of this report previously misstated that JPMorgan, Bank of America, and Wells Fargo exited the mortgage market. 蘑菇AV regrets the error.]. Nonbank lenders target more consumers, some of whom would have been ineligible for traditional mortgages. Nonbanks have a higher risk tolerance than traditional FIs while offering customers more flexible lending criteria.

JPMorgan. Juniper Research. KRON4. Lightspeed. LinkedIn. NCR Voyix. Payments Dive. PayPal. PYMNTS.com. Shift4. Shopify. Square. Stripe. TechCrunch. Toast. World Economic Forum.

JPMorgan launched its Financial Center branch concept in New York City and San Francisco to attract clients with over $750,000 in total assets. It plans to open 30 Financial Centers in seven states by the end of 2026. U.S. Bank launched interconnected savings and spending products to help affluent clients compound rewards.

鈥淎gentforce, while a critical development, is unlikely to materially move the needle on revenue growth for about a year,鈥� said JPMorgan analyst Mark Murphy, per Bloomberg. The challenge: While AI agents sound attractive to businesses looking at reduced headcount and increased profits, customers aren鈥檛 too keen on dealing with agents.

Large banks like Bank of America and JPMorgan Chase have combined assets of $100 billion or more. This report will focus on community banks and credit unions of a similar size. We describe both collectively within this report as 鈥渟maller FIs.鈥�. Community banks and credit unions are on the hook to prove their motto, 'smaller is better'. What鈥檚 happening?

JPMorgan Chase plans to open nearly 100 branches in low-income areas, bucking a trend of banks shuttering locations. Other banks are offering tools to help customers improve their financial knowledge and resilience; Wells Fargo recently offered blended cooking/financial literacy classes in New York with a focus on reaching Latinos.

And that means JPMorgan will likely keep its top-ranking position in brand value among banks鈥攗nless a competitor can beat it in the race to secure AI talent.

The bigger picture: Wells Fargo and JPMorgan Chase are also dealing with Zelle-related CFPB probes regarding how they handle customer disputes over funds sent through Zelle. Bank of America didn鈥檛 say what its inquiry was about, beyond the 鈥減rocessing of electronic payments of funds through the Zelle network.鈥�.

JPMorgan Chase was already reportedly looking for concessions as it considered taking over the portfolio, and this could give the bank even more leverage to get a better deal from Goldman.

The results: JPMorgan, Wells Fargo, Citibank, Bank of America, and Goldman Sachs beat Q3 2024 earnings estimates despite all but Goldman Sachs reporting a drop in profits since 2023. How we got here: As they did last quarter, big banks鈥� earnings show the economic environment remains challenging. As a result, analysts had expected mixed earnings, per The Financial Times. And they were right.

Why this matters: Delinquencies also rose for JPMorgan and Wells Fargo this quarter. There were previously signs that delinquencies were starting to fall, but this quarter鈥檚 bank earnings show we鈥檙e not there yet. But executives aren鈥檛 worried:. 鈥淭he US consumer continues to remain healthy and resilient,鈥� Citi CFO Mark A. L. Mason said during the company's earnings call.

JPMorgan is testing how its genAI can 鈥渃opilot鈥� its private banking advisors. The technology allows these experts to offload some manual tasks like meeting preparation or drafting follow-up emails, per Business Insider. It can also identify important opportunities advisors should flag for their clients.

By the numbers: Consumer spending remained steady in Q3 2024, according to card data from JPMorgan Chase and Wells Fargo鈥檚 Q3 earnings reports. JPMorgan鈥檚 debit and credit sales volume increased 6% YoY, per its Q3 earnings presentation, compared with 8% YoY growth last year.

鈥淥ver the past year, we've seen JPMorgan Chase, Capital One, and Citi all make moves to launch their own commerce media businesses. And it makes sense. Banks have a ton of first-party data they can leverage,鈥� our analyst Maria Elm said in July. Travel media networks from businesses like United Airlines and Expedia also popped up in 2024 as businesses aim to monetize their data.

The group鈥檚 members include Nvidia, Moody鈥檚, JPMorgan, Citibank, Goldman Sachs, and Morgan Stanley. How we got here: Regulators have had a difficult time keeping up with this technology, which makes it risky territory for FIs.

Upstarts like Ripple, in addition to incumbents like Visa and JPMorgan Chase, are pushing the technology. The buy now, pay later (BNPL) craze is creeping into B2B payments. While nascent relative to the consumer-facing market, there鈥檚 significant demand in B2B for alternative financing, especially among SMBs.

For example, JPMorgan Chase launched the JPM Coin, running on the Onyx blockchain, in 2020. It lets the bank鈥檚 corporate clients make real-time, multi-currency payments within its system, among other functions.

JPMorgan Chase. The Guardian. TikTok. VantageScore. X. YouTube.