JPMorgan Chase, Wells Fargo Suffer $3,500,000,000 in Losses As US Banks Report Massive Surge in Bad Debt

Two of the largest banks in the US are declaring a loss on a staggering $3.5 billion in debts that customers can’t pay back. JPMorgan Chase says its net charge-offs, which are delinquent debts that banks do not expect to receive, hit $2.2 billion in the second quarter of the year. That’s a $200 million The post JPMorgan Chase, Wells Fargo Suffer $3,500,000,000 in Losses As US Banks Report Massive Surge in Bad Debt appeared first on The Daily Hodl .

Source: The Daily Hodl