#jpmorgan-chase

#jpmorgan-chase

A group of protesters hold photos of Jeffrey Epstein in front of a New York City federal courthouse in July 2019.A Southern District judge ruled this week that three lawsuits against banks that Epstein used can move forward.Stephanie Keith/Getty Images A trio of lawsuits filed against two banks connected with Jeffrey Epstein can move forward, a federal judge ruled on Monday.

A file image from 2013 provided by the Florida Department of Law Enforcement shows financier Jeffrey Epstein.AP The government of the U.S. Virgin Islands alleges in a lawsuit filed this week that JPMorgan Chase "turned a blind eye" to evidence that disgraced financier Jeffrey Epstein used the bank to facilitate sex-trafficking activities on Little St. James, the private island he owned in the territory until his 2019 suicide.

Women CEOs are becoming slightly less rare, but more women billionaires won't lead to greater equity for all.(L-R) Charles Scharf, CEO and President of Wells Fargo, Brian Thomas Moynihan, Chairman and CEO of Bank of America, Jamie Dimon, Chairman and CEO of JPMorgan Chase, Jane Fraser, CEO of Citigroup, William H. Rogers Jr., Chairman and CEO of Truist Financial Corporation, Andy Cecere, Chairman, President, and CEO of US Bancorp, and William Demchak, Chairman, President, and CEO, of The PNC Financial Services Group, are sworn in as they prepare to testify during a Senate Banking, Housing, and Urban Affairs Committee Hearing on the Annual Oversight of the Nation's Largest Banks, on Capitol Hill in Washington, DC, September 22, 2022.

A group of 11 U.S. banks has agreed to make $30 billion in deposits at First Republic Bank to avoid another regional bank failure.The rescue comes after Silvergate Bank, Silicon Valley Bank and Signature Bank collapsed amid a liquidity crisis caused by a deposit run."Today, 11 banks announced $30 billion in deposits into First Republic Bank.

The stocks of U.S. regional banks plummeted on Monday, as investors reassessed how much such lenders were worth following the sudden collapse of Signature Bank and Silicon Valley Bank.The volatile conditions led to trading in roughly a dozen banks being halted after triggering so-called circuit breakers, which are meant in part to prevent runaway crashes.

Seven major banks, including Bank of America, JPMorgan Chase, and Wells Fargo, have reportedly teamed up to launch a digital wallet that will compete with other third-party wallet providers such as Paypal and Apple Pay.Big Banks to Launch a Digital Wallet Bank of America, JPMorgan Chase, Wells Fargo, and four other financial institutions behind the payment network Zelle are collaborating to launch a digital wallet for consumers to use at online checkout, The Wall Street Journal reported Monday.

According to internal sources and company documents reviewed by The Wall Street Journal, Apple has restricted its employees' use of ChatGPT and AI coding tools such as GitHub Copilot for fear of leaking confidential data to outside sources.Meanwhile, Apple is also reportedly developing similar AI technology.

Apple employees have been restricted from using generative AI tools such as ChatGPT amid concerns that company information might be leaked or exposed.A report from the Wall Street Journal revealed that the blanket ban is in direct response to worries that employees might input confidential data into the popular AI chatbot.

Many of the world's biggest banks lack transparency in how they are developing the artificial intelligence (AI) that could be used in future decision-making and risk management.A study of the 23 largest banks in Europe, the US and Canada found eight that have not publicly reported their responsible AI principles.

JPMorgan Chase is temporarily clamping down on the use of ChatGPT among its employees, as the buzzy AI chatbot explodes in popularity.The biggest US bank has restricted its use among global staff, according to a person familiar with the matter.The decision was taken not because of a particular issue, but to accord with limits on third-party software due to compliance concerns, the person said.

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The first quarter wasn't terribly kind to Stagwell.On Tuesday, the agency holding company reported $622 million in Q1 revenue - a 3% decrease year over year - and $53 million in Q1 net-new business, a 1% decrease YoY, according to CFO Frank Lanuto.The company's stock was down nearly 10% on the news.

TD Bank Group has called off its $13.4-billionUS deal to acquire U.S. bank First Horizon Corp., citing regulatory uncertainty around the takeover.TD said Thursday it reached a mutual agreement with the Tennessee-based bank to terminate the acquisition because of the uncertainty as to when and if it would be able to obtain regulatory approval.

Juliana Yamada/The Chronicle The takeover of First Republic Bank early this week meant that, overnight, customers of the failed San Francisco lender became clients of JPMorgan Chase & Co.The Federal Deposit Insurance Corp. announced early Monday it had closed First Republic, a week after the bank lost more than $70 billion in deposits.