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JPMorgan's New Branches, Impact of EU AI Regulation, & FIS's Digital Trading Leap
Manage episode 443352004 series 3586686
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Banking on Disruption Daily - October 3rd, 2024
- JPMorgan Chase plans to open 100 branches in low-income areas, incorporating financial literacy and small business support.
- U.S. private sector employment surged in September, adding 143,000 jobs, notably in leisure and hospitality.
- FDIC Chairman emphasizes the significance of relationship-driven lending for small business stability.
- Fed Governor Bowman calls for reevaluation of regulatory thresholds to better align with bank risks.
- FIS launches Digital Trading Storefront, offering banks a personalized cross-asset trading experience.
- EU's AI Act could impact U.S. banks, necessitating advanced AI systems for fraud detection.
- Apollo's CEO warns against further Federal Reserve rate cuts, citing possible negative economic impact.
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