As a Private Client Advisor at J.P. Morgan Wealth Management, Radhames Pineda works with clients to help them achieve their long and short-term goals.
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Day in the Life of a Private Client Advisor | Wealth Management | J.P. Morgan

America, wake up. Our financial system is being taken over by big banks, and it’s happening right before our eyes.

With JP Morgan’s latest takeover, they now have nearly $3 trillion in US bank deposits under their control.

The consolidation of the banking industry has led to a drastic decline in the number of community banks, leaving us with a handful of national giants (like JP Morgan) in America.

But what does this mean for Americans?

Well, I’m concerned that if our money becomes concentrated in just a few banks, the US government can exert control over the banking system and even introduce a central bank digital currency.

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First Republic Bank has become the third bank to fail in recent months and JPMorgan Chase will assume all of its assets, according to the Federal Deposit Insurance Corporation. ABC News Chief Business correspondent Rebecca Jarvis has more. https://abcn.ws/3HtsUnF

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Sep.21 — JPMorgan Chase & Co. has opened its digital retail bank in the U.K. as it seeks to expand its consumer business overseas. Bloomberg’s Tom Metcalf reports on “Bloomberg Daybreak: Europe.”