Robinhood pitched itself to investors as the antithesis of Wall Street. It didn’t say that it also entirely relies on Wall Street. This past week, the two realities collided.
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Tag Archives: JPMorgan Chase&Company
Big Banks’ Earnings Reflect the U.S. Economy Joe Biden Is Inheriting
Big banks are sending mixed signals.
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C.E.O.s, Former Officials Call for a Post-Trump Globalism Revival
A group of company leaders and former policymakers argue that “globalism” isn’t an epithet. Instead, they argue, it is the way forward.
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With Vaccines and Stimulus on the Way, Banks Brighten Their Outlook
The biggest banks in the United States have begun to pare back the enormous reserves they had socked away in case of an economic disaster.
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AT&T, JPMorgan and Coca-Cola Pull Back Political Giving Following Capitol Riots
AT&T and Marriott were among companies that will stop campaign contributions to lawmakers who objected to certifying the election. Other companies, such as JPMorgan, paused all political donations.
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Amazon, Berkshire and JPMorgan Will End Joint Health Care Venture
The company, Haven, had promised to disrupt the way large corporations deliver benefits to their employees.
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What Counts as Race Discrimination? A Suit Against JPMorgan Is a Test
A former employee accuses JPMorgan Chase of failing to stop what she said was racially driven bullying. The bank says race had nothing to do with it.
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Paid Time Off, Free Fries: How Corporate America Is Getting Out the Vote
Spurred by recent social unrest, many U.S. companies are trying to make it easier for workers, and urging their customers, to cast their ballots.
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Three Rockefellers Say Banks Must Stop Financing Fossil Fuels
JPMorgan Chase and other big banks should use their lending power to force cuts in greenhouse gas emissions.
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Wait, Wall Street Is Pro-Biden Now?
Investors are warming to the possibility of a “blue wave” as Joseph R. Biden Jr. rises in the polls and the chances of a contested election diminish.
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Despite Billions in Fees, Banks Predict Meager Profits on P.P.P. Loans
Banks collected at least $13 billion in fees on Paycheck Protection Program loans, according to a New York Times analysis. But the largest lenders say costs wiped out most of what they took in.
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Banks Suspected Illegal Activity, but Processed Big Transactions Anyway
A leak of thousands of “suspicious activity reports” that banks filed with regulators shows the widespread nature of illicit money flows.
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Reid Hoffman and Mark Pincus On What Makes Their SPAC Different
Silicon Valley stars Reid Hoffman and Mark Pincus explain what makes their blank-check company different.
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JPMorgan Sends Workers Home After Coronavirus Case
Sending workers home after a colleague tests positive for the coronavirus will be a fact of life for months to come.
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Justice Dept. Announces Dozens of Fraud Charges in Small-Business Aid Program
Fifty-seven people were charged with trying to steal more than $175 million from the Paycheck Protection Program, law enforcement officials said.
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Coronavirus Tests the Leadership Style of Goldman Sachs’s C.E.O.
The pandemic has given David Solomon a chance to try out a more open-minded approach in tune with the bank’s young work force.
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Interest Rates Are Low, but Loans Are Harder to Get. Here’s Why.
Banks have tightened standards, becoming more choosy about their borrowers and asking a lot of questions.
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One of America’s Oldest Gun Makers Files for Bankruptcy for 2nd Time
The move by the 204-year-old Remington Arms Company came after years of litigation and declining sales.
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Businesses Are Supposed to Cut Debt in a Downturn. Why Not Now?
The Federal Reserve’s efforts to stabilize markets have touched off an even bigger borrowing binge than corporate America was already on.
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Banks Stockpile Billions as They Prepare for Things to Get Worse
JPMorgan Chase, Citigroup and Wells Fargo said that as long as the economy behaved according to their forecasts, they were braced for more pandemic-induced pain.
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I’m Not Ready to Go Back to Restaurants. Is Anyone?
Restaurateurs have become de facto public-health officials as Covid-19 cases spike all over the country, and it’s a problem.
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‘Banking While Black’: How Cashing a Check Can Be a Minefield
Black customers risk being racially profiled on everyday visits to bank branches. Under federal laws, there is little recourse as long as the banks ultimately complete their transactions.
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Manhattan Faces a Reckoning if Working From Home Becomes the Norm
Even after the crisis eases, companies may let workers stay home. That would affect an entire ecosystem, from transit to restaurants to shops. Not to mention the tax base.
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Former Exxon Chief Lee Raymond Shouldn’t Be on JP Morgan Chase’s Board
Shareholders at JP Morgan Chase should block a former Exxon chief from another term on the bank’s board.
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Banks Gave Richest Clients ‘Concierge Treatment’ for Pandemic Aid
Some businesses seeking coronavirus loans got to avoid flaky online portals or backed-up queues. Many other small businesses couldn’t get their loan requests submitted before the money dried up.
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Businesses Say Big Banks Flouted ‘First Come First Served’ for Aid
Small-business owners are suing, claiming that applications for stimulus loans weren’t processed in the order they were received.
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Big Banks, Readying for a Recession, Set Aside Billions
First-quarter earnings reports from JPMorgan Chase and Wells Fargo showed the country’s largest banks were preparing for customer pain.
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SBA Loan Program Starts As Small Businesses Make Urgent Applications
A $349 billion program to throw them a financial lifeline got off to a rocky start on Friday as the U.S. economy continued to seize up.
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As Virus Hobbles Economy, Companies Race to Tap Credit and Raise Cash
The clamor for corporate funding is raising concerns about a financial reckoning reminiscent of 2008.
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