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Stories of Interest
- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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NEWSLETTERS & ALERTS
JPMorgan Looks for Big Payoff From Lead in Deposit Race
Over the past 5 years, stock analysts have challenged JPMorgan Chase executives for keeping so many branches open as customers increasingly banked online. Giving up real estate, the analysts said, was an obvious way the bank could save money when interest income was flagging and regulatory and legal costs were climbing.
But Chase executives resisted, arguing that branches are great billboards for the Chase brand and essential to attracting people who want to open accounts or make major transactions in person. Now it looks like the executives were right, or at least closer than other banks to delivering the right mix of physical and digital customer service. Chase consumer bank, with $607 billion in deposits, is setting up for a massive payoff if it can keep those funds and the company can lend them at higher interest rates in a stronger economy.
However, full payoff is not a sure thing for JPMorgan Chase:
- Loan demand and lending rates could fall short.
- The economy might become so strong that depositors put their money to better use.
- Lending could be so attractive that JPMorgan rivals lure deposits away with higher and higher rates.