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/biz/ - Business & Finance

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File: 33 KB, 1200x627, Chemical_TCF_Log-up_Logo.jpg [View same] [iqdb] [saucenao] [google]
15156736 No.15156736 [Reply] [Original]

Someone please explain this shit Ponzi scheme company to me

>Be me
>Use bank in the right of pic related because of free student checking account in college, fees are almost non-existent, and serves my bare-minimum direct-deposit and debit card needs
>Receive letter in the mail saying they closed a merger with Chemical Bank
>Wondering why I never heard of this until now
>Go to Wikipedia, Chemical Bank acquired Chase Bank back in 1996, is now obviously JPMC
>wtf.jpg

Inb4 two banks with the same name, how is that allowed to be a thing?

>> No.15156939
File: 552 KB, 578x373, UM_CUBE.png [View same] [iqdb] [saucenao] [google]
15156939

>>15156736
i cant answer your question but i have TCF so heres a story
UM ann arbor basically twisted all incoming students arm to get a checking account, tied it to the student ID and there are very few other atms on campus
when i bought my first crypto with coinbase TCF immediately deactivated my debit card and sent me a new one through the mail, as i was in another state at the time this really fucked me up. if i didnt have another credit card i wouldnt have survived
also UM has a black cube wtf mate

>> No.15156978

>>15156939
That's some illuminati-tier shit.

>> No.15158290

>>15156736
>Chemical Bank
I did a little digging and it also looks like chemical bank does its best to be on the bleeding edge of financial technology
such as the first bank to install an atm in 1969.
I can only speculate as to how they are going to implement stable coins. Maybe they'll beat facebook to it.

Chemical should be called JPMC. Maybe they transferred all of their stock over to jpmc ut kept the chemical name/corp and have recently revived it to skirt regulations on banking monopoly laws?

>> No.15158299

>>15156736
>This article is about the former bank headquartered in New York City. For Chemical Bank in Michigan, see TCF Financial Corporation.

>> No.15158343
File: 49 KB, 657x527, 1565073479938.jpg [View same] [iqdb] [saucenao] [google]
15158343

I dont know wtf is going on in this thread. Can someone explain it to me as if I was a retard?

>> No.15158369

>>15158343
OP is retarded and didn't realize that the former Chemical Bank (now JPMC) is a different bank entirely than the one in the pic (Chemical Financial Corporation).

>> No.15158816

>>15158369
>>15158299

Ok, but if their name really is "Chemical Financial Corporation", why are they referring to themselves as "Chemical Bank"? Doesn't JPMC own the copyrights for the brand by nature of the acquisition? I'm not saying they aren't two different banks, I'm just skeptical of how these two banks went by the same name, especially since this merger went under the radar for this long.

>> No.15159009
File: 282 KB, 1080x2220, Screenshot_20190807-193557.png [View same] [iqdb] [saucenao] [google]
15159009

Took a closer look at both Wiki articles. From the TCF one:

>Chemical State Savings Bank was founded in 1917.

>In 1964, the bank changed its name to Chemical Bank Trust.

>In 1974, the bank changed its name to Chemical Bank.

How can this one entity be both "Chemical Bank" and "Chemical Financial Corporation" simultaneously? Why didn't the "original" Chemical Bank, now JPMC, sure the living shit out of this bank for trademark violations?

Pic related, associated the TCF/MI bank logo with the JPMC bank