JPMorgan Chase, Goldman Sachs (NYSE: GS) Pfizer Inc. (NYSE: PFE), and the Western Asset Management Company participated in the actual $150 million Yankee CD, American Banker reported. JPMorgan’s Blockchain Center of Excellence tested a mock transaction of a debt issuance in the same amount to see if it was possible on 21 April 2018.Read more
If you are looking for an income stock that’s likely to be around a few years from now Chase, BoA, and Wells Fargo would be far better investments. It will be a miracle if Bank of Internet is around next year.
Those seeking a next-generation financial solution would be better served by PayPal Holdings (NASDAQ: PYPL). PayPal reported assets of $32.65 billion, $13.047 billion in cash and short-term investments, revenues of $3.744 billion, a net income of $620 million, and a gross profit of $2.072 million for 4th Quarter 2017.Read more
Walmart Pay users will not get cash back by paying with Chase Freedom, but they can get 5% Cashback by using Chase Pay at Walmart. Walmart (NYSE: WMT), America’s retailer accepts Chase Pay because it is a quick-read (QR) code based application like Walmart Pay. Although Chase Pay users can get 10% cash back at Walmart; if they pay with the Chase Sapphire or Freedom Unlimited Cards, before December 24, 2017, Nerdwallet reported.Read more
There’s also less exposure to the mortgage market which is still on some very shaky ground. U.S. Bancorp controlled around 2.8% of the mortgage in first quarter 2017, compared to the 16.3% that Wells Fargo owned, Forbes Great Speculations pointed out.
The volume of mortgage originations is falling dramatically dropping from $561 billion in 3rd Quarter 2016 to $361 billion in Quarter One 2017. That’s a decline of more than $35% or $200 billion in just six months.Read more
“God bless the blockchain,” Dimon said. “Cryptocurrencies, digital currencies, I think are also fine.”Read more
Chase Pay will be integrated with both PayPal’s digital wallet and the Braintree merchant platform, TechCrunch reported. That means Chase Pay users might be able to use the app to pay at merchants will Braintree accounts.Read more
Chase apparently plans to fold Current C into its digital wallet Chase Pay, Business Insider reported. Chase Pay is accepted only at Starbucks and Best Buy right now, but Walmart has plans to start taking it sometime this year. That will give Chase an advantage over Apple Pay and Android Pay, which Walmart refuses to take.Read more
The uncertain future of Bank of America (NYSE: BAC) is threatened by the changing nature of consumer banking. The biggestRead more
A major problem is that revenues at JPMorgan and Bank of America are well below their historic highs. JPMorgan reported revenues of $99.13 billion back in June 2013; Citi reported revenues of $77.40 billion as recently as September 2014, and BOA’s revenues hit a high of $97.59 billion in June 2012.Read more
All of these investments are real risky and you’ll probably lose money but you never know. As Benjamin Graham liked to point out Mr. Market is completely insane and he often rewards off the wall investors while punishing conventional thinkers severely.Read more