🚨JPMorgan Chase and Bank of America Suffer $4.5 Billion in Losses as 'Bad Debt' Soars🚨
🚨The two largest banks in the US announce a loss of $ 4.5 billion in debts that customers cannot pay.🚨
✅JPMorgan Chase says its net charge-offs, which are debt the bank does not expect to receive, reached $2 billion in the first quarter of this year, Reuters reports.✅
This is nearly double the amount of bad debt compared to the same quarter last year.
Bank of America, meanwhile, reported $1.5 billion in net charges, a jump from $807 million a year earlier. BofA says those losses stem mainly from credit card debt that will likely never be paid.
https://dailyhodl.com/2024...
🚨The two largest banks in the US announce a loss of $ 4.5 billion in debts that customers cannot pay.🚨
✅JPMorgan Chase says its net charge-offs, which are debt the bank does not expect to receive, reached $2 billion in the first quarter of this year, Reuters reports.✅
This is nearly double the amount of bad debt compared to the same quarter last year.
Bank of America, meanwhile, reported $1.5 billion in net charges, a jump from $807 million a year earlier. BofA says those losses stem mainly from credit card debt that will likely never be paid.
https://dailyhodl.com/2024...
JPMorgan Chase and Bank of America Suffer $4,500,000,000 in Losses As 'Unrecoverable Debt' Soars: Report - The Daily Hodl
The two largest banks in the US are declaring a loss on $4.5 billion in debts that customers are unable to pay.
https://dailyhodl.com/2024/04/27/jpmorgan-chase-and-bank-of-america-suffer-4500000000-in-losses-as-unrecoverable-debt-soars-report/amp/
03:22 PM - Apr 29, 2024
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