GeneralBearishDaily Hodl · 2d ago7/10
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JPMorgan Chase, Citi and Wells Fargo Lose $5,606,000,000 to Bad Loans in Just Three Months
Three major U.S. banks—JPMorgan Chase, Citigroup, and Wells Fargo—collectively wrote off $5.6 billion in bad loans during Q1, with JPMorgan alone accounting for $2.3 billion. The charge-offs reflect deteriorating credit quality across the banking sector as U.S. credit card debt reaches record highs, signaling potential stress in consumer finances.
