Banking

The Consumer Financial Protection Bureau issued an advisory Thursday warning that funds stored in payment apps like PayPal and Venmo are not federally insured, unlike bank deposits.

The FDIC's quarterly banking report found that total deposits in U.S. banks declined as uninsured deposits were withdrawn even as insured deposits rose amid the banking crisis.

JPMorgan Chase says it will shut down 21 branches of its recently acquired First Republic Bank by the end of 2023, representing a quarter of the former bank's locations.

Jamie Dimon on Wednesday said the current status of the U.S. banking system was 'nothing like 08.' He told Bloomberg Television that 'there's nothing like that leverage in the system.'

Building savings can provide a safety cushion for economic downturns as well as provide funds for investment, but due to soaring prices, it's become more difficult.

JPMorgan Chase and the U.S. Virgin Islands are battling in court over allegations of condoning Jeffrey Epstein's sex trafficking of young girls.

An application that JPMorgan Chase recently filed with the U.S. Patent and Trademark Office indicates the bank potentially has plans for an AI feature for choosing securities and assets.

JPMorgan Chase has informed 1,000 employees of First Republic Bank they will soon be out of job, making the announcement weeks after acquiring the institution.

First Citizens Bank announced Wednesday they will be laying off employees. The bank took over the remnants of Silicon Valley Bank after it failed during a March bank run.

First Citizens Bank is cutting jobs related to its takeover of Silicon Valley Bank, which became the largest bank failure since the financial crisis.

A federal district judge issued a decision on Wednesday about whether the Jeffrey Epstein-related lawsuit filed by JPMorgan Chase against Jes Staley can proceed.

JPMorgan Chase CEO Jamie Dimon was asked what attributes the bank's board should look for when selecting his eventual successor, and he did not hold back.

Consumer debt reached a record of $17.05 trillion in Q1 2023. Many Americans still deal with high inflation and are seeking help from their financial institutions, reports say.

Morgan Stanley CEO James Gorman announced he is stepping down from his chief executive position at the bank's annual shareholders meeting this week.

Morgan Stanley Chief Executive Officer James Gorman told the investment bank’s shareholders on Friday that he will step down within the next 12 months.

Deutsche Bank agreed to pay $75 million to settle a lawsuit from women who say they were abused by Jeffrey Epstein. The suit was filed in federal district court in New York.

Regional banks saw their share prices jump Wednesday in the wake of the banking crisis as Western Alliance Bank announced strong growth in its deposit base.

The former heads of Silicon Valley Bank, Signature Bank and First Republic Bank all blamed social media for fueling panic that led to bank runs on their institutions.

Jamie Dimon on Tuesday offered investors his views on the likelihood of JPMorgan Chase doing another purchase of a regional bank facing difficulties, saying it was "unlikely."

Treasury Secretary Janet Yellen will reportedly meet with the CEOs of Bank of America, Citigroup, JPMorgan and other big banks amid debt ceiling threat and bank crisis.