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In This List

JPMorgan tightens data security; banking issues to remain on 2020 House agenda

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity

Street Talk Episode 70 - Banks' Liquidity Conundrum Could Fuel M&A Activity

StreetTalk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk – Episode 69: Banks left with pockets full of cash and few places to go


JPMorgan tightens data security; banking issues to remain on 2020 House agenda

In an effort to tighten data security, JPMorgan Chase & Co. has pledged to ban fintech apps from using customer passwords to access their bank accounts, the Financial Times reports. The bank's head of digital, Bill Wallace, told the news outlet that the company is going to limit data sharing and instead issue tokens that send certain data to third parties securely.

In 2020, observers believe that banking issues will remain on the House agenda as part of Democrats' scrutiny of industry executives and oversight of Trump administration regulators, American Banker reports. Analysts also noted that while the focus will be on oversight, the legislative body may also try to advance bills related to financial services. Issues to watch out for this year include the cannabis banking bill, the reform of government-sponsored entities and the issue concerning the constitutionality of the Consumer Financial Protection Bureau.

Investors and policymakers await long-term solutions that would return the funding markets to normal after the Federal Reserve has resorted to quick fixes like purchasing Treasury bills, the Financial Times reports. While bank executives have pressured regulators to loosen liquidity requirements, investors do not see the likelihood of immediate changes due to strong political resistance.

Franklin, Tenn.-based Franklin Financial Network Inc. CEO J. Myers Jones III will be watched out for in 2020 as he tries to reduce the bank's exposure to shared national credits, brokered deposits and other noncore relationships while increasing or at least maintaining the company's net interest margin and profits, American Banker reports.

The federal bank regulatory agencies released the annual adjustment to the asset-size thresholds as required under Community Reinvestment Act regulations. The adjustments will be effective from Jan. 1.

In other parts of the world

Asia-Pacific: China cuts banks' reserve ratio; 2 Indian banks to exit Sri Lanka

Europe: China halts LSE stock link; Commerzbank eyes comdirect stake; HSBC bets on ETFs

Middle East & Africa: Oman Arab Bank plans merger with Alizz Islamic Bank; African bourses to link up

Now featured on S&P Global Market Intelligence

The year in fintech: Megamergers, Madden fix and stalled fintech charter: From megamergers to a long-awaited Madden fix, 2019 was a major year for the fintech space. But the legality of the fintech charter — a key issue for companies looking to get into banking — is still up in the air, and U.S. regulators are expected to provide more clarity on bank-fintech partnerships.

The day ahead

Early morning futures indicators pointed to a higher opening for the U.S. market.

In Asia, the Hang Seng gained 1.25% to 28,543.52.

In Europe, around midday, the FTSE 100 was up 0.84% to 7,606.17, and the Euronext 100 increased 1.17% to 1,157.83.

On the macro front

The jobless claims report, PMI manufacturing index, the Fed balance sheet and the money supply report are due out today.

Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.

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