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Those conditions are a 鈥淕oldilocks economic situation,鈥� said JPMorgan CFO Jeremy Barnum, adding the 鈥渞esults鈥�are consistent with a soft landing.鈥�. But a Trump presidency could upend that trajectory. Trump pledges to institute across-the-board tariffs of 10% to 20% on imported goods, in addition to a 60% or higher tariff on imports from China.

Bad timing: A strike could cost the economy as much as $5 billion a day, per JPMorgan, which would be a massive jolt to a US economy that had been gliding down toward a soft landing. The timing couldn鈥檛 be worse for retailers, many of which plan to launch holiday sales in early October (or, in a few cases, late September) to offset a likely slowdown in sales the week of the US presidential election.

If their earnings were adjusted to remove these one-time fees, JPMorgan and Bank of America would have beaten analyst expectations, and Citigroup would have met them. Wells Fargo, Goldman Sachs, Morgan Stanley, and PNC beat expectations without adjustments.

But credit card delinquencies were mixed: JPMorgan and Wells Fargo reported increases, while Citi posted a slight decrease. JPMorgan鈥檚 30+ day delinquency rate for card services was 2.23%, up from 2.14% in Q4 2023 and 1.68% a year ago. Wells Fargo鈥檚 30+ day credit card delinquency rate jumped from 2.80% in Q3 to 2.92%. A year ago, it was 2.18%.

But incumbents Visa and JPMorgan are close behind: They鈥檝e forged a partnership between their respective B2B Connect and Liink blockchain-based networks. The latter can use the former to mitigate fraud by confirming the intended recipient's bank account. Interbank integration and solving blockchain interoperability issues set a path for continued growth.

BofA is joined in this trend by JPMorgan and PNC, which both plan to significantly increase their brick-and-mortar presence over the next few years. A race to win high-value customers: Industry observers told Yahoo Finance that multiple banks view physical locations as ways to acquire wealth management and small-business customers.

JPMorgan. In broadly upbeat results, JPMorgan was the prime example of a large bank that benefited from the security its size can offer customers at a time of growing uncertainty, particularly those with assets at smaller banks. It reported net income of $12.6 billion, jumping 52% year over year (YoY).

JPMorgan Chase. Oliver Wyman. Petal. PYMNTS.com. The Wall Street Journal. TomoCredit.

JPMorgan Chase鈥檚 combined debit and credit card sales volume grew 7% YoY to hit $424.0 billion, down from 10% last quarter. Citi鈥檚 branded credit card volume jumped 8% YoY to $2.352 billion, accelerating slightly from 7% in Q1. But deposits continued their monthslong decline: Average deposits at Wells Fargo and JPMorgan fell 7% and 6%, respectively.

And both JPMorgan and Wells Fargo lowered their loan loss provisions in Q3, while Citi鈥檚 was flat鈥攁 vote of confidence for the US consumer. The big takeaway: Despite some positive notes, Q3 was not without its share of economic warning signs.

JPMorgan: Its CMO Carla Zakhem-Hassan says the bank is dedicated to promoting social causes as a means of improving underserved communities鈥� access to financial products. In 2020, JPMorgan launched a major PR campaign to announce its $30 billion pledge to racial equity. The bank is still working toward this goal and regularly reports on its progress.

The preview: Earnings season for issuers begins this week, with JPMorgan, Citi, and Wells Fargo reporting results on Friday. Here are three trends to look out for as issuers reveal what Q3 had in store. Credit losses are climbing: Credit card losses are rising at the fastest pace in almost 30 years excluding the Great Recession, according to Goldman Sachs.

JPMorgan Chase.

A JPMorgan executive will become the CEO of nonprofit standards-setting body Financial Data Exchange (FDX), which will help determine how banks and fintechs share information once the CFPB鈥檚 rule goes into effect, per Bloomberg Law.

JPMorgan advertised globally for 3,651 AI-related roles from February through April, Evident鈥檚 data showed鈥攁lmost double its nearest competitors, Citigroup and Deutsche Bank. Banks are betting the tech will help personalize their interactions with customers and simplify and speed up complex risk analysis and modeling.

Key takeaway: JPMorgan and Capital One are winning the genAI race so far by conducting research and securing top AI talent, but that doesn鈥檛 mean it鈥檚 too late for smaller financial institutions (FIs) to get involved. Just 6% of small FIs have companywide roadmaps for AI implementation, per The Fintech Times, so those who start now could still be ahead of many competitors.

And JPMorgan acquired 75% of Volkswagen Payments in 2021. How it benefits Hyundai: Turning a car into a payment method can give automakers competitive advantages. In-car payments let drivers conveniently conduct fuel payments, parking payments, and food and drink orders. It can also make these transactions safer by limiting the functionality to things like saved orders and hands-free calling.

Banks that have invested in their crypto operations, including Goldman Sachs and JPMorgan, may want to cut their losses as crypto edges increasingly closer to the financial services fringe. This article originally appeared in Insider Intelligence鈥檚 Banking Innovation Briefing鈥攁 daily recap of top stories reshaping the banking industry.

For example, JPMorgan and Capital One are leading AI research, development, and staffing. But JPMorgan just gave us a clearer picture of its AI strategy at the Bernstein Strategic Decisions Conference. JPMorgan has at least 400 use cases for the technology, but hopes to double that by the end of the year.

JPMorgan. Citi. Goldman Sachs. Wells Fargo. Deutsche Bank. How can banks prepare for AI鈥檚 rise? Despite wariness around using third-party AI technologies, banks are investing heavily in the space. Retail banks are forecast to spend $4.9 billion on AI platforms by 2024, growing 21.8% compounded annually from 2019, per GlobalData research.

The news: A new index that tracks banks鈥� implementation of artificial intelligence (AI) puts JPMorgan at the top of the list, per TechCrunch. First of its kind: UK-based startup Evident created the index, which ranks the 23 largest banks in North America and Europe by their ability to develop and deploy AI-powered solutions.

Other big banks like JPMorgan, Wells Fargo, and Bank of America also analyze elections鈥� potential impacts on the market. But Golman鈥檚 analysis has sparked conversation and elicited responses from both campaigns鈥攑ossibly as a result of its timing. The Trump campaign dismissed the credibility of the analysis. The Harris campaign used it as an opportunity to make a case against her opponent.

The takeaway: Legacy terminal providers should invest in building biometric tech of their own or partner with firms that do, as JPMorgan and Toshiba have done. Otherwise, they might risk disintermediation鈥攚hich could cost them annual growth in the POS installed base market.

JPMorgan, Citigroup, Bank of America, and Wells Fargo are set to release Q4 earnings on Friday, January 13 before the market opens. Goldman Sachs and Morgan Stanley will follow with earnings releases on Tuesday, January 17. This article originally appeared in Insider Intelligence鈥檚 Banking Innovation Briefing鈥攁 daily recap of top stories reshaping the banking industry.

For example, JPMorgan Chase, Citi, and Ally increased marketing and ad spend significantly more than the industry average in 2022. Ally鈥檚 52% YoY hike put it in the top 10 sharpest ad spending increases out of the 200 national advertisers with the biggest budgets, per Ad Age. Bank marketing budgets are increasingly shifting toward digital media. That鈥檚 per a recent American Bankers Association survey.