JPMorgan Chase, Bank of America, Wells Fargo and Citi Lose $6,900,000,000 From Sour Loans As Analyst Warns Notorious Debt Bubble Is Popping

JPMorgan Chase, Wells Fargo, Bank of America and Citi are unloading billions of dollars in bad debt that they’ve given up on recovering. New earnings data shows the four largest banks in the country collectively recorded $6.9 billion in net charge-offs in Q3 of this year, primarily driven by credit card delinquencies and soured consumer […] source: https://dailyhodl.com/2024/10/18/jpmorgan-wells-fargo-citi-bank-of-america-see-losses-over-6900000000-from-soured-loans-as-credit-card-rates-jump-to-record-high/