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Trump sues JPMorgan Chase over alleged debanking in $5b lawsuit: reports
Yahoo Finance· 2026-01-22 22:05
US President Donald Trump has sued JPMorgan Chase and its CEO Jamie Dimon, according to reports, following through with threats after the banking giant allegedly denied him services. The $5 billion lawsuit alleges the lender stopped offering President Trump and his businesses banking services for political reasons, according to a report from Bloomberg that cited court documents. The US president over the weekend wrote on his social media platform, Truth Social, that he would sue the bank after it “deban ...
JPMorgan CEO Jamie Dimon Reaps $43 Million in Pay for Last Year
WSJ· 2026-01-22 22:02
The pay package for the 69-year old is a 10% increase from the previous year. ...
摩根大通CEO戴蒙2025年薪酬提高至4300万美元
Xin Lang Cai Jing· 2026-01-22 21:46
摩根大通称,该薪酬体现了"我们在各项市场领先业务和财务业绩上的强劲表现,以及稳健的资产负债 表,并继续体现薪酬与绩效高度挂钩"。 责任编辑:李桐 责任编辑:李桐 摩根大通宣布,董事会独立成员批准了首席执行官戴蒙2025年4300万美元的薪酬。 摩根大通宣布,董事会独立成员批准了首席执行官戴蒙2025年4300万美元的薪酬。 摩根大通称,该薪酬体现了"我们在各项市场领先业务和财务业绩上的强劲表现,以及稳健的资产负债 表,并继续体现薪酬与绩效高度挂钩"。 ...
JPMorgan CEO Jamie Dimon's pay rises to $43 million in 2025
Reuters· 2026-01-22 21:35
JPMorgan Chase said on Thursday its longtime CEO Jamie Dimon's 2025 pay package climbed about 10% to $43 million. ...
New Chase IHG One welcome offers: Earn up to 175,000 bonus points
Yahoo Finance· 2026-01-22 21:28
Core Insights - Chase is promoting two IHG credit card bonuses, with the IHG One Rewards Premier being highlighted as the superior option due to its simplicity and enhanced benefits [1][12] Group 1: IHG One Rewards Traveler Credit Card - The IHG One Rewards Traveler Credit Card offers a welcome bonus of up to 120,000 points, which includes 90,000 points after spending $2,000 in the first 3 months and up to 30,000 additional points for spending on eligible purchases [4][7] - The ongoing APR for purchases ranges from 19.24% to 27.74% variable [4] - This card provides a low-cost option for earning IHG points, with no annual fee and the benefit of getting the fourth night free on award stays [7][10] Group 2: IHG One Rewards Premier Credit Card - The IHG One Rewards Premier Credit Card has a welcome offer of 175,000 bonus points after spending $5,000 in the first 3 months [10][12] - It features an annual fee of $99 and offers a rewards rate of up to 26x points at IHG hotels, 5x points on travel, dining, and gas stations, and 3x points on all other purchases [11][12] - Key benefits include earning a free night on each account anniversary, automatic Platinum Elite status, and a statement credit of up to $120 every four years for Global Entry, TSA PreCheck, or NEXUS application fees [11][12]
JPMorgan Earnings Highlight Value of Active Management
Etftrends· 2026-01-22 21:18
Core Viewpoint - JPMorgan Chase & Co. reported earnings that exceeded expectations for the fourth quarter, yet its shares declined nearly 4%, indicating a cautious sentiment among investors regarding the bank's performance and broader market conditions [1]. Financial Performance - JPMorgan reported a profit of $13.03 billion, or $4.63 per share, which is a 7% decrease from the previous year, primarily due to a $2.2 billion charge from acquiring the Apple Card business from Goldman Sachs. Adjusted earnings, excluding this charge, were $5.23 per share, surpassing the consensus estimate of $5.00 [2]. - The bank's revenue reached $46.77 billion, exceeding the estimated $46.20 billion. Notably, equities trading revenue surged by 40% to $2.9 billion, approximately $350 million above expectations, driven by strong performance in hedge fund services. However, investment banking fees fell by 5% to $2.3 billion, about $210 million below estimates [3]. Market Outlook - Despite the mixed results for the quarter, the overall outlook for banks remains positive. CEO Jamie Dimon described the U.S. economy as resilient but warned that markets may not fully recognize potential risks, including geopolitical complexities, persistent inflation, and high asset prices [4]. Investment Strategy - The earnings beat was insufficient to boost shares due to disappointing investment banking revenue, highlighting the risks associated with heavy concentration in mega-cap banks. This situation suggests potential advantages in maintaining smaller positions in large banks while diversifying exposure across other financial entities. For instance, the T. Rowe Price Financials ETF (TFNS) holds JPMorgan at 4.9% of its assets, significantly lower than the 11.2% weighting in the S&P 500 Financial Index [5]. - TFNS balances its smaller stake in JPMorgan with larger investments in other financial institutions, including Berkshire Hathaway at 8.98%, Visa at 7.2%, and Mastercard at 5.4%. Additionally, it holds Bank of America at 4.9%, Citigroup at 4.2%, Goldman Sachs at 4%, and Capital One Financial at 3.5% [6]. Fund Management - Portfolio managers Matthew Snowling and Gregory Locraft utilize fundamental research to select stocks, employing both value and growth strategies. The fund invests at least 80% of its assets in financial companies, including banks, insurance firms, payment processors, and capital markets companies. TFNS was launched on June 11, 2025, with a 0.44% expense ratio and has achieved a return of 7.91% over the past three months, managing $12.6 million in assets [7].
特朗普起诉美国最大银行
Xin Lang Cai Jing· 2026-01-22 20:14
来源:新华网 特朗普当天中午在社交媒体上转发福克斯商业新闻网站对此事的报道。 特朗普的律师当天向佛罗里达州一家法院提交诉状。特朗普方面主张,摩根大通集团在2021年1月6日国 会大厦骚乱事件后,出于"政治原因"停止为特朗普及其名下企业提供银行服务。 新华社纽约1月22日电(记者刘亚南 徐静)据美国媒体22日报道,美国总统特朗普对美国最大银行摩根 大通集团及其首席执行官杰米·戴蒙发起诉讼,索赔至少50亿美元。 ...
BofA CEO Warns 10% Credit Card Cap Will Curb Spending
PYMNTS.com· 2026-01-22 20:14
Core Viewpoint - The proposed 10% credit card interest rate cap by President Trump is being questioned by Bank of America's CEO Brian Moynihan, who believes it could negatively impact consumer spending and credit availability [2][3]. Group 1: Impact on Consumer Spending and Credit Availability - Moynihan stated that implementing the cap would slow down consumer spending and limit credit availability, which may not align with the intended goals of the proposal [2][3]. - The banking industry argues that the cap would lead to a reduction in credit access, forcing consumers to seek less reliable and more expensive alternatives, such as payday loans [4]. Group 2: Industry Reactions - JPMorgan Chase CEO Jamie Dimon echoed Moynihan's concerns, suggesting that the cap could remove credit access for 80% of Americans, who rely on it as backup [5]. - Citigroup CEO Jane Fraser expressed skepticism about Congress supporting the 10% cap, indicating a broader industry consensus on the potential negative consequences of the proposal [5][6]. Group 3: Importance of Credit in the Labor Economy - Research indicates that a significant portion of low-wage workers, specifically those earning less than $25 an hour, rely heavily on credit, accounting for about 15% of U.S. consumer spending [6]. - The PYMNTS Intelligence report highlighted that 33.8% of workers in this low-wage cohort typically carry a revolving credit balance, compared to under 25% for the larger population [7].
Trump sues JPMorgan Chase for $5bn in debanking row
Sky News· 2026-01-22 20:02
Core Viewpoint - Donald Trump has initiated a $5 billion lawsuit against JPMorgan Chase, alleging that the bank debanked him and his business interests for political reasons after his presidency ended [1][5]. Group 1: Lawsuit Details - The lawsuit was filed in Miami-Dade County court, relating to events surrounding the transition of power to Joe Biden following the 2020 election, which Trump claims was rigged [3]. - Trump asserts that he and his businesses were cut off from millions of dollars and faced disruptions while trying to open new bank accounts [2]. Group 2: JPMorgan Chase's Response - JPMorgan Chase has denied the allegations, stating that it does not close accounts for political or religious reasons, but rather due to legal or regulatory risks [5]. - The bank expressed regret over the lawsuit but maintains that it believes the suit lacks merit [5]. Group 3: Context and Comparisons - The case has similarities to a recent dispute in the UK involving Nigel Farage and NatWest regarding account closures, highlighting ongoing tensions between financial institutions and political figures [5]. - Trump is also pursuing a separate $10 billion defamation case against the BBC related to the editing of a speech he made during the Capitol protests [6].
Trump sues Jamie Dimon, JPMorgan over 'debanking' claims, complicating life for the nation's largest bank
Yahoo Finance· 2026-01-22 19:31
Core Viewpoint - The lawsuit filed by President Trump's legal team against JPMorgan Chase and CEO Jamie Dimon alleges that the bank terminated services for political reasons, claiming a breach of good faith and fair dealing [1][2]. Group 1: Lawsuit Details - The lawsuit, amounting to $5 billion, was filed in a Florida court, accusing JPMorgan of violating its code of conduct by unilaterally terminating several of Trump's bank accounts without warning [2][3]. - Trump's attorney claims that in February 2021, JPMorgan notified Trump and his family that their accounts would be closed in two months, allegedly without provocation [3]. - The lawsuit alleges that JPMorgan's decision was influenced by "unsubstantiated, 'woke' beliefs" aimed at distancing the bank from Trump's conservative views [4]. Group 2: JPMorgan's Response - A spokesperson for JPMorgan stated that the bank plans to contest the lawsuit, asserting that it does not close accounts for political or religious reasons, but rather due to legal or regulatory risks [5]. - The bank expressed regret over the lawsuit but maintained that it believes the suit lacks merit and emphasized its right to defend itself in court [5]. - The issue of "politicized or unlawful debanking" has been a concern for conservatives and certain industries, with Trump previously signing an executive order to investigate such practices [5].