A consumer-finance agency is a good thing, but it would do well to teach consumers a simple lesson: if you don't understand the deal you're making, don't make it.
Sentiment: NEGATIVE
Consumers get used to reading and understanding their credit card contracts, their mortgages, their check overdraft agreements, those are good things. That puts power back in the hands of consumers.
Consumerism is so weird. It's a sort of conspiracy we collude in. You'd think shoppers spending their hard-earned cash would be highly critical. You know that the manufacturers are trying to have you on.
People in retail banks are not smart. They have a business model that's quite difficult to not make money out of - but still they somehow manage it.
If you think you know the consumer better than anyone, then you're in real trouble. So we take a close watch. You spend time in stores.
Well, I think the best form would be to put money directly in the pockets of consumers.
Customers are a great way to finance a business for many reasons. First, customer financing is typically non dilutive. They want something from you other than equity in your business. Customers also help you fit your product to the market. And customers will help debug and improve the quality of the product.
It is vital for officials and regulators to have input from people within our businesses who understand the intricacies of how financial markets operate and the consequences of certain policy decisions.
Put your consumers in focus, and listen to what they're actually saying, not what they tell you.
The financial industry is a service industry. It should serve others before it serves itself.
I don't buy this thing that our industry is responsible for all the ills of the world. We have great people at JPMorgan Chase. We operate with a lot of rigor. Our clients are happy with us.
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