Jon Prior

A slower-than-expected rollout of the COVID-19 vaccines and the threat of social unrest after the Jan. 6 riot at the U.S. Capitol could threaten the recovery, according to an American Bankers Association panel.

The Office of the Comptroller of the Currency says JPMorgan Chase’s fiduciary unit lacked sufficient controls to manage risk and avoid conflicts of interest.

Several companies said this week they’re slashing expenses as the economy limps along. Others would prefer to keep investing in new technologies to better gauge which changes in consumer behavior will stick.

The bank is more diligent than its rivals in helping to reduce the spread of coronavirus, according to a new study.

Bankers spent Monday cleaning up damaged branches, wondering if their small-business clients will need more emergency aid and contemplating how the racial and economic inequalities highlighted by days of violent protests nationwide can be corrected.

Though hopeful for a second-half bounceback in the economy, JPMorgan Chase is prepared for 20% unemployment, lackluster GDP and losses in its loan portfolio that could reach tens of billions of dollars.

While many institutions are taking protective steps, others want to stay open to promote public confidence in the banking system.