JPMorgan Chase & Co. unveiled a $20 billion investment plan on Tuesday to increase wages, hire more, open new branches and expand its business as it takes advantage of sweeping changes to the U.S. tax law and improved regulatory environment.
The stock of JPMorgan Chase & Co. has been climbing so much that “at a certain price,” the company may consider issuing a special dividend to distribute excess capital rather than buying back additional stock, CEO Jamie Dimon said on Tuesday.
Citigroup Inc., the fourth-biggest U.S. bank by assets, reported a 10.5 percent fall in quarterly profit on Friday, hurt by lower revenue from equity trading.
Wells Fargo & Co. scrapped its product sales goals for retail bankers on Tuesday and may take further disciplinary action against its employees in the wake of a fake account scandal that has already led to $190 million in fines and the firing of 5,300 employees.
