American Express has raised the annual fee for its Platinum card from $695 to $895, and early results suggest the increase has not hurt customer retention. About 25% of US consumer Platinum cardholders have been billed at the higher rate with no change to retention rates, whilst revenue from Platinum cardholders grew 6% in Q1. The move follows a similar pattern to Chase, which increased its Sapphire Reserve card fee to $795 from $550. Industry analysts say younger cardholders view premium cards as subscription-like products that deliver value through travel and lifestyle benefits. American Express now offers over $3,500 in annual benefits through its Platinum card, including credits for Resy, Lululemon and Uber One membership. The company's success may establish a new pricing benchmark for competitors targeting affluent customers in the premium credit card market.

Chase plans to open more than 160 branches across 30 states in 2026 and renovate nearly 600 locations as part of a multibillion-dollar expansion. The move continues a three-year strategy announced in 2024 to open over 500 branches, renovate 1,700 locations and hire 3,500 employees nationwide. The expansion targets low-to-moderate income and rural communities, with major growth planned for North Carolina, South Carolina, Florida, Pennsylvania, Kansas, Massachusetts and Tennessee. Chase will hire 1,100 new employees this year, adding to its network of over 50,000 consumer banking staff. The bank operates 18 Community Centers offering financial education workshops and has 160 Community Managers. In 2025, these managers hosted 14,000 workshops for 240,000 attendees, covering topics including budgeting and fraud prevention.

Officials from the Treasury Department and the Small Business Administration have long insisted that the government’s Paycheck Protection Program (PPP), set up as a coronavirus emergency fund for small businesses, primarily benefited small businesses because 87 percent of the loans were for less than $150,000.