We think JPMorgan Chase's next acquisition target could be a neobank – making up for the recent closure of its all-digital bank, Finn.
Since the financial crisis in 2008, federal regulators have been working — sometimes privately — to constrain big banks from swelling even further, but the Trump administration has rolled back or softened enforcement of banking restrictions.BB&T announced a $28 billion tie-up with SunTrust.
The Wall Street Journal. The move could give the bank a chance to convert those employees into Morgan Stanley customers as their financial situations improve over the course of their lives.it would expand its wealth management business with a purchase of investment advisor United Capital Financial Partners in May 2019.
We think JPMorgan Chase's next acquisition target could be a neobank to make up for the recent closure of its own all-digital bank, Finn. Finn was in June, primarily because it wasn't different enough from other Chase offerings. But that certainly would be less of a problem if the bank snaps up a neobank and expands its digital offerings inorganically.
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