JPMorgan Chase and Bank of America Suffer $4,500,000,000 in Losses As ‘Unrecoverable Debt’ Soars: Report

{"id":"https://dailyhodl.com/?p=285976","title":"JPMorgan Chase and Bank of America Suffer $4,500,000,000 in Losses As ‘Unrecoverable Debt’ Soars: Report","primaryLink":"https://dailyhodl.com/2024/04/27/jpmorgan-chase-and-bank-of-america-suffer-4500000000-in-losses-as-unrecoverable-debt-soars-report/","links":["https://dailyhodl.com/2024/04/27/jpmorgan-chase-and-bank-of-america-suffer-4500000000-in-losses-as-unrecoverable-debt-soars-report/"],"updatedOn":"0001-01-01 00:00:00Z","publishDate":"2024-04-27 16:48:43Z","summary":"

The two largest banks in the US say they expect to lose a collective $4.5 billion from customers who are essentially unable to pay their bills. JPMorgan Chase says its net charge-offs, which are debts that the bank does not expect to receive, hit $2 billion in the first quarter of this year, reports Reuters. […]

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The post JPMorgan Chase and Bank of America Suffer $4,500,000,000 in Losses As ‘Unrecoverable Debt’ Soars: Report appeared first on The Daily Hodl.

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