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JPMorgan's $2.5 trillion commitment could rebalance the scales. The bank has financed about $317 billion in fossil-fuel activity since 2015, an activist group found. In that time, it has put nearly $210 billion toward green initiatives.
The deal, expected to close in the fourth quarter, would create a financial institution with $44 billion in assets with dual headquarters in Mississippi and Houston.
The feature lets customers choose which payments will be processed if an overdraft is imminent. Tests of the product have helped users reduce insufficient-funds fees by more than 60%, the bank said.
The departure of the digital bank's head of product is being followed closely by that of Goldman's communications chief, who is expected to announce Friday he's leaving after nine years.
In his annual shareholder letter, JPMorgan CEO Jamie Dimon said the strengths of Amazon, Apple, Facebook, Google and Walmart are "extraordinary, with ubiquitous platforms and endless data."
Buying Level gives Avant direct access to customers' account information, allowing it to look at people's cash flow, spending, bill pay — data points for which Avant currently pays an aggregator.
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