J.P. Morgan VP shared information with his childhood friend on at least 15 pending transactions, including the First Data acquisition.
Five hundred job cuts in Denver part of company's bid to be more efficient and innovative, spokesman says.
Caution noted: Consumers reducing discretionary spending while increasingly resorting to credit for necessities.
First Data says the pace of consumer payments slowed significantly in April over the pace during the first quarter of the year.
Consumers spent more on their credit and debit cards in September 2011 than they did in the same month last year, according to card processor First Data. But the firm credited inflated prices for the increase rather than an increase in purchases.
For credit unions and banks vying to be the primary financial institution, understanding and delivering products and services based on consumers’ needs has always been a priority.