Payments Product Manager - Vice President

Goldman Sachs posted its second-highest quarterly net revenue ever, $18.68 billion, while JPMorgan Chase and Bank of America missed expectations. Goldman's earnings per share were $17.01, against expectations of $13.02, driven by a 72% surge in equities revenue. JPMorgan reported $50.17 billion in revenue, below the $51.22 billion expected, and earnings per share of $5.57 versus $5.90. It missed on both for the first time in nearly three years, as fixed-income trading fell 4% to $5.4 billion and costs rose 12%. Bank of America's profit fell 17% to $6.93 billion, ending a six-quarter beat streak. Regulators had announced a $1.2 billion penalty against it a day earlier. Wells Fargo missed on revenue, at $21.87 billion against $22.31 billion expected. Morgan Stanley and Citigroup beat estimates. Bank chiefs said the US consumer remains resilient, though some analysts worry about credit as interest rates rise.

CFPB targets debanking practices after OCC report. President Donald Trump issued an executive order in August 2025 to deter debanking, but a recent report from the Office of the Comptroller of the Currency (OCC) found that the nine largest national banks maintained debanking policies. Now the US Consumer Financial Protection Bureau (CFPB) is taking action against those institutions in one of the few actions it has taken since the start of the current Trump administration. The CFPB announced a new initiative Wednesday to investigate debanking activities. The bureau says it will determine whether the nine banks named in the OCC report - JPMorgan Chase Bank, Bank of America, Citibank, Wells Fargo Bank, U.S. Bank, Capital One, PNC Bank, TD Bank, and BMO Bank - and other institutions violated federal consumer financial laws, and it will take enforcement action if the investigation establishes grounds to do so.

Big banks discriminated against conservatives during Biden admin: report. The Trump admin reviewed almost 100,000 complaints about debanking activities by JPMorgan, Chase Bank, Wells Fargo, and other top financial companies. Wed Oct 14, 2026 - 3:32 pm EDT WASHINGTON, D.C. (LifeSiteNews) - Banks across the United States maintained "broad reputation risk policies" against right-of-center customers and groups during Joe Biden's presidency, according to a report released on Wednesday by the U.S. Office of the Comptroller of the Currency (OCC). The report reviewed almost 100,000 complaints spanning the nine largest banks supervised by the OCC: JPMorgan Chase Bank, Bank of America, Citibank, Wells Fargo Bank, US Bank, Capital One, PNC Bank, TD Bank, and BMO Bank. It found that the institutions' policies "disadvantaged certain Americans based on their political, religious, or social views or based on their lawful business activities" without "clear standards" or "objective, risk-based criteria"; and that they "maintained public and nonpublic policies restricting certain industry sectors' access to financial services, including those in oil and gas exploration, coal mining or coal-powered plants, firearms or ammunition manufacturing or distribution, construction or operation of detention facilities, the manufacturing, distribution or online retail of tobacco or e-cigarettes, and digital asset activities." "Today's report provides irrefutable evidence that the nation's largest banks have denied, debanked and discriminated against customers and lawful businesses," said Comptroller Jonathan Gould. "Americans should have access to financial services regardless of their beliefs, affiliations, or political views. Fair access to financial services is not a mantra - it is a mandate. The Trump Administration is committed to ending the weaponization of finance against hardworking Americans, once and for all." "Notwithstanding certain efforts by the largest banks to rein in these practices, I am not confident that they will be enough," Gould added. "Accordingly, the OCC will be assessing further changes to the regulatory and supervisory framework applicable to the largest banks to reduce the likelihood of these harmful practices recurring in the future." Examples include JPMorgan Chase's WePay payment service flagging merchants who used terms like "MAGA," "Make America Great," and "America First," canceling the account of at least one seller of pro-Trump products on the pretext that it promoted "hate, violence, or racial intolerance." WePay also quashed accounts from vocal critics of the Black Lives Matter movement and Dr. Anthony Fauci, often relying on the word of the far-left Southern Poverty Law Center (SPLC) for who constituted an "extremist." Wells Fargo, meanwhile, discriminated against firearms businesses and a religious nonprofit opposed to same-sex "marriage," with a risk review noting that "under the Biden administration, banks could face greater supervisory pressure to move away from lending to the firearms industry." PNC refused credit to a media company whose owner "funded several Christian conservative groups, including several identified as hate groups by the Southern Poverty Law Center," justified on the grounds that "I think it becomes really difficult to justify aligning ourselves with a company whose owners have built very public personas around opinions very contrary to PNC's beliefs/values." Over the past several years, there have been numerous instances of banks, credit card companies, and crowdfunding platforms cutting off services to conservative individuals and groups, thanks in large part to the influence of left-wing groups like SPLC and the Anti-Defamation League and corporate trends such as ESG (environmental, societal, governance) scoring. The Biden administration's interest in centralized digital currency further intensified fears of a future in which Americans' basic economic freedoms are tied to conformity with the views of those in power. Thanks in part to such overreaches by the previous Democrat administration, the United States is now widely perceived as being in the midst of a widespread political and cultural backlash against so-called "woke" ideology.