The government shutdown posed a delay to many economic releases from U.S. agencies, including the Bureau of Labor Statistics. Multiple data releases, including the September jobs report, have been delayed. Last month’s employment data will be released this week.
- JPMorgan Chase entered a $13 billion settlement revolving the sales of mortgage bonds. It would be the largest amount paid by a U.S. financial institution to settle a lawsuit. The settlement is a good chunk of the firm’s $21.3 billion profit in 2012. The bank was accused of selling bonds tied to low-quality mortgages to investors before the financial crisis.
- U.S. Bank has given a makeover to its iPhone mobile banking application. The redesign was meant for the app to resemble the new iOS 7 mobile platform. Additionally, the calendar layout and the app interface has been improved. There was no update to U.S. Bank’s mobile app for Android devices.
- On Tuesday, the Bureaus of Labor Statistics will finally release September’s jobs report. The data release comes 18 days late due to the government shutdown that began on Oct. 1. Savers may be eager to see the employment situation given that interest rates are now tied to the jobs market. The Federal Reserve will raise rates when the unemployment rate falls to 6.5 percent. In August, the unemployment rate was 7.3 percent.
- American Express launched a program that would allow New York City taxi passengers to pay for their rides with Membership Rewards points. When customers pay with an eligible American Express card and have enough points to pay for the ride, an option will be offered on the Taxi TV screen to do so. The program is offered in partnership with Verifone.
- In an online notice to customers, Capital One announced that it is ending its online shopping portal, called Perk Central, effective in November. The program allows customers to earn cash back, up to 15 percent, whenever they visited a participating merchant through Perk Central. Capital One did not provide a reason for shutting down the shopping portal.