Asks about loan growth, deposits, and credit quality.
Romaine Bostek
Mike Santomassimo
Reports strong momentum: credit card new accounts up 20%, auto loans up 19%, good commercial and consumer activity, no credit issues emerging.
Asks how he balances risk from 20% jump in credit card and auto loans.
Romaine Bostek
Mike Santomassimo
Consumer has been consistent; activity good, liquidity strong, credit performance strong. Not seeing anything indicating credit trend is changing significantly.
Asks about potential cap on credit card interest rates and communication with policymakers.
David Gura
Mike Santomassimo
A cap would remove credit when people most need it, leading to negative consequences for credit availability and broader economic growth.
Asks how clients are digesting policy uncertainty from the administration.
David Gura
Mike Santomassimo
Uncertainty creates questions about the economy and business model adjustments. People are being cautious, not making big investments, waiting to see how economy and policy develop.
Asks about business expansion post-regulatory cap and investment banking growth.
Romaine Bostek
Mike Santomassimo
Growth strategy started years ago with focus, investments, and efficiency. Now with asset cap gone, more flexibility to pursue opportunities across the company.
Asks for house view on interest rates and net interest income tailwind.
Romaine Bostek
Mike Santomassimo
Market prices in a little over two Fed cuts this year; likely at least some will happen. First couple cuts seem more certain. Expects 10-year Treasury to be in a pretty tight, stable range for rest of year.