Category: Banks

JPM Advances Payment Changes with WePay

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Will J.P. Morgan’s WePay strategy work in its favor?

One of the biggest banks in America is innovating payment options to try to keep up with competitors.

Today, CNBC reports that J.P. Morgan Chase will offer free same-day deposits on its WePay platform for depositors.

J.P. Morgan acquired WePay in December 2017, paying $400 million, and wants to streamline its use to compete with payment operators like Stripe and Square.

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Capital One Shares Fall After Data Breach

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The Capital One data breach impacts more than 100 million consumers in the U.S.

On Tuesday, shares of Capital One fell more than 6% after the company revealed that a recent data breach exposed sensitive customer information. All in all, the data breach impacts more than 100 million U.S. consumers and 60 million Canadian consumers.

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Wells Fargo Shares Fall Despite Second-Quarter Revenue Gains

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Wells Fargo’s shares fell more than 2% due to concerns about spending and its net interest income.

Wells Fargo is one of several major banks to release its earnings reports this week. The bank released its second-quarter earnings report on Tuesday and despite beating investor expectations, Wells Fargo saw its shares fall more than 2%.

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Citigroup Kicks Bank Earnings Season Off With a Bang

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The bank’s second-quarter earnings report gave investors a lot to be happy about. 

Citigroup kicked off bank earnings season with strong second-quarter results. Wells Fargo, Bank of America, and JP Morgan Chase are all expected to post quarterly earnings report later this week. 

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