The SEC and state insurance regulators are tightening scrutiny of valuations for opaque, illiquid private-credit loans, since changes in how these assets are valued could affect banks. Private credit in registered funds surged to $270 billion in 2025, a 60% jump from $170 billion in 2020. Life insurers are a key link: the Federal Reserve Bank of Chicago estimates they have invested about $1 trillion in private credit, while the NAIC puts their exposure at $1.21 trillion at the end of 2025. Some experts warn that losses on AI-linked loans held by life insurers could spread to banks, which have significant counterparty exposure to these insurers. The SEC's statement is part of a proposal that would let registered investment advisers charge performance fees to a broader range of investors, which makes valuation accuracy more important.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on americanbanker.com ↗
Keywords
JPMprivate creditvaluationregulation
Open a keyword to see other news on the same topic.
Related tickers and likely impact
JPM
▼ Likely negativeJPMorgan Chase
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Financials |
| Industry | Diversified Banks |
| Market cap | $891.9B |
| Close on 10/22/2026 | 336.51 |
| Change that session | +0.39% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Big Banks Cut Off Conservatives and Christian Groups , OCC Investigation Finds
A report released Wednesday by the Office of the Comptroller of the Currency (OCC) finds that many of America's biggest banks denied or closed services for conservative businesses, Trump merchandise sellers and Christian organizations based on political views and religious beliefs. PNC declined a 2021 credit line to a media company after employees cited its owners' conservative views and funding of groups the SPLC designates as hate groups. Wells Fargo pressed a payment intermediary to drop a religious nonprofit over its views on same-sex marriage, disrupting its recurring donations. JPMorgan Chase, PNC, Wells Fargo and Capital One were cited for denials or closures, while Citibank and Bank of America's examples mainly involved industry restrictions such as coal, firearms and digital assets. The OCC reviewed nine national banks, nearly 100,000 complaints and about 420,000 pages of documents covering 2020 through September 2025.
- US, European watchdogs intensify scrutiny of AI risks at banks
- Epstein - linked banks face judgment day as Trump deteriorates
President Donald Trump has tried to keep the Epstein files under wraps and reportedly called federal watchdogs off banks linked to Jeffrey Epstein, according to Bloomberg. Key Democrats unveiled the Epstein Wall Street Record Act, which would require regulators including the SEC and Federal Reserve to make supervisory records related to Epstein or Ghislaine Maxwell public within 120 days and investigate related banking, securities or anti-money laundering violations. Epstein conducted substantial business with JP Morgan Chase, Deutsche Bank and Bank of America. The bill faces hurdles while Republicans control Congress, but Democrats could gain more power over legislation if they win the November midterms. Senior executives found in violation could be barred from banking, fined or referred to the Justice Department for prosecution.
- OCC releases debanking review of nine largest US banks
The Office of the Comptroller of the Currency (OCC) released findings of a supervisory review into debanking at the nine largest national banks it oversees, including JPMorgan Chase, Bank of America, Citibank, Wells Fargo, US Bank, Capital One, PNC, TD Bank and BMO. Conducted under a presidential executive order on fair banking access, the review found all nine banks had maintained policies at some point between 2020 and September 2025 that restricted services based on political or religious beliefs or lawful business activities. The OCC identified 'broad reputation risk' policies lacking specified standards and objective criteria, affecting sectors including oil and gas, coal, firearms, tobacco and digital assets. It assessed nearly 100,000 complaints and about 420,000 pages of bank documents, and says it is considering further action and assessing changes to the framework for the largest banks.
- US probes 9 major banks accused of discriminating against customers
On October 14, the OCC released a 47-page report accusing 9 major U.S. banks, including JPMorgan Chase, Bank of America, Citibank, Wells Fargo, U.S. Bank, Capital One, PNC, TD Bank and BMO Bank, of refusing services, closing accounts or limiting credit over political, social or religious views between 2020 and 2025. The report draws on about 100,000 complaints and 50,000 internal bank documents, citing cases such as PNC denying credit to a media company and Wells Fargo refusing loans to two gun businesses. Although all 9 banks said they had revised relevant policies, the OCC considers the remedies insufficient, and the CFPB has opened an investigation into the banks concerned. JPMorgan said a review process previously applied by WePay did not meet its standards, that the issue has been addressed and WePay has ceased operations, and that its current policies prohibit discrimination based on political or religious views.
- Federal watchdog says 9 large US banks denied service to customers over political or religious views
The Comptroller of the Currency said in a regulatory review released Wednesday that the nine largest US banks denied financial services to customers based on political, religious or social beliefs. The OCC reviewed nearly 100,000 complaints and about 50,000 documents from JPMorgan Chase, Bank of America, Citibank, Wells Fargo, U.S. Bank, Capital One, PNC, TD Bank and BMO. It found the banks' internal guidelines lacked objective, risk-based criteria, and that lenders restricted sectors such as oil and gas, coal mining, firearms, detention facilities, and tobacco or e-cigarettes. All nine banks said they reassessed reputation risk in customer decisions, while the Bank Policy Institute, a lobbying group representing the banks, said it supports clear standards that promote access while managing financial risk.
Related markets
Latest news
- Why Comfort Systems Plunged Today
Comfort Systems (FIX) fell as much as 13.2% on Friday before trimming its decline to 8.9% by 3:10 p.m. EDT, despite beating revenue and earnings estimates for the quarter. Revenue rose 53.7% and EPS grew 68.6% to $13.91, while backlog climbed to $17.8 billion from $14.1 billion three months earlier. The article attributes the sell-off mainly to the announced year-end retirement of Bill George, a founder and longtime CFO, along with a "sell the news" reaction seen across AI-linked stocks this earnings season. Shares are about 38% below their June all-time high and trade at 19.4 times average 2027 analyst earnings estimates.
- Intel Stock Has Moved an Average of 16% the Day After Its Last 3 Reports. Should You Buy Before the Next One?
Intel reports third-quarter results after the close on Oct. 29, and its stock has moved an average of about 16% in the session after its last three reports: down 17% after January, up 24% after April, and down 8% after July. The company beat its own forecasts each time, yet shares fell twice because management's outlook for the coming months carried more weight. The third-quarter revenue midpoint of $16.3 billion is only about 1% above the second quarter, a sharp slowdown, so the fourth-quarter forecast is seen as the key number to watch. At around 44 times expected 2027 earnings, the author argues the share price already reflects a return to growth, and says he would not buy the stock before the report.
- SpaceX Filing Gives Elon Musk the Final Word on Tesla Merger He Says He’s Staying Out Of
SpaceX stated in an SEC filing that any merger with Tesla must be approved by its controlling shareholder, Elon Musk, who holds roughly 85% of voting power. Musk recused himself from both special committees but publicly endorsed the deal, which Reuters reported created a "mess" for the independent process. Both companies formed special committees on October 20 to evaluate a proposed deal that analysts estimate could create a combined entity worth around $3.5 trillion. REX Financial estimates Musk would hold roughly 57% of combined voting power. Tesla shareholders must clear a 50%-of-all-outstanding-shares threshold, with a vote expected at or near the December 3 annual meeting.
- SpaceX Filing Gives Elon Musk the Final Word on Tesla Merger He Says He’s Staying Out Of
SpaceX stated in an SEC filing that any merger with Tesla must be approved by its controlling shareholder, Elon Musk, who holds roughly 85% of voting power. Musk recused himself from both special committees but publicly endorsed the deal, which Reuters reported created a "mess" for the independent process. Both companies formed special committees on October 20 to evaluate a proposed deal that analysts estimate could create a combined entity worth around $3.5 trillion. REX Financial estimates Musk would hold roughly 57% of combined voting power. Tesla shareholders must clear a 50%-of-all-outstanding-shares threshold, with a vote expected at or near the December 3 annual meeting.
- Meta shares are down 9% this week. Here's why Mike Khouw is buying now
Meta shares fell during the week as investors worried about the cost of building AI infrastructure, even though the company recently reported strong earnings. The company's $1.65 trillion market cap lost $135 billion in four sessions. The author sees Muse, Meta's personal AI agent, as potentially valuable given its reach to 3.6 billion daily active users across Facebook, Instagram, WhatsApp and Messenger. Headwinds include a $25 billion lawsuit in New Mexico, a deal with the founder over potential California billionaire's tax liabilities, concerns about debt, and broader AI jitters. He argues the current valuation, at about 20x fiscal-year earnings, already prices in much of this. He outlines selling December strangles at the 580/745 strikes, collecting about $21.30 per share at today's closing prices, a position that profits anywhere between the one-year high and low.
- Robinhood Is Quietly Building 13 Businesses at Once. Here's Why It Matters.
By Q2 2026, Robinhood had 13 business lines each generating at least 100 million USD in annualized revenue, up from one in 2019 and nine in 2024. The author argues that adding products such as options, crypto, Gold subscriptions and credit cards lets the company earn more from each customer without customer acquisition costs. Robinhood ended Q2 with 28.4 million funded customers, up 7%, 4.8 million Gold subscribers, up 39%, and average revenue per user up 24% to 187 USD. Transaction revenue rose 44% to 776 million USD, alongside 389 million USD in net interest revenue and 143 million USD in other revenue, which reduces reliance on trading activity. The author cautions that annualized revenue is the quarter's revenue multiplied by four, so the 13 lines should not be treated as mature businesses each generating 100 million USD.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.