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JPMorgan spokesperson Jerry Dubrowksi says,  鈥淎ccounts are closed only after appropriate review and consideration of the facts,鈥� and that the bank 鈥渁cts in accordance with our compliance program, consistent with our regulatory obligations.鈥�. However, the Bank Policy Institute found that only 5% of SARs warranted followup from law enforcement.

The 鈥嬧�媔n-store digital advertising company has worked with brands such as AT&T, The Hershey Co., PepsiCo, and JPMorgan Chase, and developed partnerships with grocers like Schnucks, Smart & Final, and Coborn鈥檚. The company notes its growth has helped it enter major markets like Los Angeles and St. Louis, as well as expand its reach among Hispanic consumers.

JPMorgan recently made a deal with Renovite Technologies, a cloud-based payments fintech. And Ohio-based Huntington Bancshares鈥� CEO said the bank was interested in payments acquisitions. Crypto fintechs have fallen out of favor as the crypto market crashed countless times in 2022.

In 2023 alone, Block-owned Square, Fiserv-owned Clover, PayPal, Stripe, and JPMorgan all expanded their Tap to Pay acceptance capabilities. This casts a net far wider than the smallest businesses, tempting larger ones to adopt the technology for use cases such as on-demand delivery and in-aisle solutions. What does it mean for payment providers?

JPMorgan debuted Instacart and DoorDash cards, Venmo is building out its card program, and American Express moved into the space. The right partner could offer a considerable opportunity to build an industry-leading product that helps drive innovation in the co-brand space this year.

AI solutions can cost banks anywhere from a few thousand dollars to JPMorgan Chase鈥檚 鈥渉undreds of millions of dollars per year.鈥� Cost depends on the complexity of the solution and size of the organization. Generative AI solutions require a large amount of data, a hidden but significant cost when integrating this technology.

JPMorgan and Jane Street acted quickly to become authorized users of these ETFs, which would allow them to redeem their shares and manage their assets. Goldman Sachs is allegedly in talks with BlackRock to become an authorized user of its ETF as well.

Omnicom and Microsoft (or Google): These deals have been teased by Omnicom鈥檚 CEO John Wren, who told JPMorgan Chase analysts that the company was working with AI from both Microsoft and Google. 鈥淲e are partnering with them, and we will service them in ways too,鈥� said Wren. BBDO and skepticism: BBDO has a differing AI philosophy.

The big takeaway: Kimbell set off alarm bells when he spoke at a JPMorgan conference鈥攏ot during the company鈥檚 earnings call鈥攁nd so he may have overstated the issue or simply highlighted a company-specific challenge. Ulta faces growing competition from Sephora, which is rapidly expanding its presence in department stores like Kohl鈥檚.

Data-rich companies include retailers (like Walmart), payment companies (like JPMorgan Chase), and media-buying platforms (like The Trade Desk). Data-poor companies need to partner with data-rich companies. Some 49% of advertisers worldwide believe using their own first-party data is the most promising solution post-cookies, according to DoubleVerify.

JPMorgan and Morgan Stanley both offer chatbots that give investment guidance or documentation. What鈥檚 behind the shifts? Ever-evolving regulatory demands and a volatile economic environment have left many companies with insufficient revenue from their primary lines of business. Nasdaq's drive to find alternative revenue sources has intensified after the 84% decline in IPOs in 2022.

There are also signs that some consumers are feeling financially strained, compounding issuer risks: Discover, Bank of America, JPMorgan, and other banks reported a slight increase in delinquencies in January relative to last year (though delinquencies generally remain below pre-pandemic levels). The big takeaway: Rising rewards costs and laggard loan growth could squeeze issuers鈥� margins.

鈥淲inter is coming from a data privacy standpoint,鈥� said Tracy-Ann Lim, chief media officer at JPMorgan Chase. Our take: We鈥檙e once again sounding the alarm on the importance of first-party data. Alternative identifiers to cookies and partnerships with retail media networks will help advertisers prepare as legacy strategies go away. "I believe in sort of freedom of choice.

With JPMorgan Chase and PayPal launching their own ad networks, programmatic ad professionals are looking at commerce media, where companies with first-party data launch media networks. Omnichannel retail media ad spend will grow by 26.0% this year, per our March 2024 forecast.

US Bank, Bank of America, and JPMorgan Chase all exited the student loan business more than 10 years ago. Even three major student loan servicers鈥擳he Pennsylvania Higher Education Assistance Agency (PHEAA), Granite State Management and Resources, and Navient鈥攈ave left the market after servicing around 16 million student loans.

JPMorgan Chase鈥檚 combined debit and credit card sales volume grew 10% year over year (YoY) in Q1, down from 29% during the same period last year. Wells Fargo鈥檚 credit card point-of-sale (POS) volume grew 3% YoY, a dramatic contraction from the 33% growth it posted a year ago. Citi鈥檚 branded credit card volume grew 7% YoY, compared with 24% the same period a year ago.

Firms like JPMorgan and Morgan Stanley generally only work with companies that have more than $20 million in the bank, startup and venture capital investor Dylan Itzikowitz told PitchBook. With few options left, startups鈥� choice of a bank will depend on what they value.

SVB鈥檚 collapse also opens up acquisition opportunities for other banking players, like JPMorgan, which is exploring acquiring parts of SVB. Banking upstarts like Brex and Mercury Advisory saw a surge in demand as SVB depositors rushed to withdraw funds.

Even as a reputable FI, Goldman still needed to convince customers of its co-brands鈥� value versus mainstream card giants like JPMorgan Chase and Bank of America. These issuers might have an easier time acquiring cardholders because customers are likely to opt for an issuer they already have a banking relationship with鈥攎any card applicants might already use their checking accounts or other services.

As a result, those growing areas have seen retail establishments open, while larger cities have seen closures, per a JPMorgan Chase Institute report. For example, San Francisco had 6.5% fewer retail establishments at the end of Q4 2021 than it had in Q4 2019, while Phoenix had 4.1% more establishments.

JPMorgan Chase鈥檚 credit card sales volume grew about 12% year over year (YoY) in Q4鈥攕lower than the 29% YoY increase from the same period in 2021. Citi鈥檚 branded credit card volume grew 9% YoY in Q4, down from Q4 2021鈥檚 24% YoY jump. Wells Fargo鈥檚 credit card point-of-sale (POS) volume jumped 17.5% YoY in Q4. Volume surged 28% YoY during the same period in 2021.

Opposing any climate-related banking considerations, Texas Attorney General Ken Paxton is investigating whether major financial firms like Bank of America and JPMorgan have violated state laws by belonging to climate-focused alliances and potentially boycotting energy companies. Florida Gov. Ron DeSantis also proposed legislation banning ESG-related requirements for FIs.

And Wells Fargo, JPMorgan, and Bank of America reduced the risk of customers incurring overdraft fees. New overdraft policies: Though the changes affect all banks鈥� bottom lines, the fee reductions have hit smaller banks harder. But some banks have found creative ways to restructure their overdraft policies that don鈥檛 entirely eat away at profits.

JPMorgan said it would proactively prepare to comply with the new capital requirements, but that it would continue to push back on proposed changes. Citi indicated that it would begin setting aside modest additional reserves, and would only increase those reserves when it's absolutely necessary. The bank is waiting to see the differences between the Basel requirements and what the Fed proposes.

JPMorgan head Jamie Dimon warned that shadow banks don鈥檛 help clients during tough times, and that businesses that work with shadow banks could face foreclosures faster. Last month, the International Monetary Fund (IMF) warned that shadow banks could cause the next financial crisis.