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Stock Market & Financial Investment News

News Breaks
February 26, 2013
10:32 EDTJPM, VVisa, JPMorgan sign LOI for new and expanded partnership agreement
Visa (V) and JPMorgan Chase & Co. (JPM) announced that the companies have agreed to a letter of intent for a new and expanded 10-year renewable partnership agreement. Under terms of the planned deal, JPMorgan Chase will launch Chase Merchant Services, a payments platform powered by Visa that JPMorgan Chase will use to create more differentiated experiences for its merchants and cardholders. The platform will process transactions initiated with JPMorgan Chase-issued Visa cards at merchants that JPMorgan Chase enrolls in Chase Merchant Services. As part of the agreement, JPMorgan Chase also will shift additional credit and debit card volume to Visa, driving more transactions on the Visa network.
News For V;JPM From The Last 14 Days
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November 10, 2014
15:17 EDTJPM, VCFPB may require added disclosures on prepaid cards, WSJ says
The Consumer Financial Protection Bureau is expected to propose new rules later this week that will require more disclosure for prepaid debit cards and cracking down on allowing consumers to spend more money on the cards than they have, according to The Wall Street Journal, citing people familiar with the matter. The rules come as traditional financial institutions, such as JPMorgan (JPM) and American Express (AXP) have moved into the business and the industryís biggest players donít allow overdrafts so it is unclear whether the new rules will dent industry profits, the report said. Green Dot (GDOT) also does not permit overdrafts and Visa (V) recently excluded overdraft abilities in guidelines for its prepaid cards, the report added. Reference Link
07:12 EDTVCA Technologies to hold a conference
CA World 2014 is being held in Las Vegas on November 9-12.
06:46 EDTJPMRegulators set new capital buffer rule for banks, Reuters reports
Global banks should have buffers of bonds or equity worth 16%-20% of their risk-weighted assets, beginning in January 2019, The Financial Stability Board decided, according to Reuters. The board said the buffer would prevent the need for government bailouts, the news service explained. Publicly traded global banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) Wells Fargo (WFC), Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Reference Link
06:18 EDTJPMUBS to settle misconduct allegations at precious metals trading unit, FT reports
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