Consumer & Community Banking
Largest US consumer franchise; the Apple Card transfer will add over $20 billion of balances once it closes.
The numbers
What it is
The consumer bank: Chase branches and digital banking, credit and debit cards, mortgages, auto loans and small business lending across the US. It is the main deposit gatherer and the biggest source of card income.
Why it matters to the stock. Net interest income on deposits and card balances drives most of the firm's earnings sensitivity to rates and credit. Card net charge-offs and the ROE trend here move the stock more than most single lines.
News
JPMorgan names Doug Petno and Troy Rohrbaugh co-presidents; Marianne Lake to retire
JPMorganChase named Doug Petno and Troy Rohrbaugh co-presidents, effective immediately.
JPMorgan plans to double Community Centers and Community Managers, targeting 5 million people
JPMorganChase plans to hire more than 150 Community Managers, roughly doubling the 160 in place, and to double its 19 Community Centers.
JPMorgan launches American Dream Initiative, targeting 10 million small businesses
JPMorganChase launched a multi-year American Dream Initiative aimed at small businesses, raising its target from seven million to 10 million small businesses served.