JPMorgan Chase, Citi and Wells Fargo Lose $5,606,000,000 to Bad Loans in Just Three Months

Three of America’s largest banks are writing off a combined $5.6 billion in bad loans in the first quarter as US credit card debt climbs to a new record high. According to first-quarter earnings reports, JPMorgan Chase recorded $2.3 billion in net charge-offs, Citigroup posted $2.2 billion of net credit losses, and Wells Fargo reported […] The post JPMorgan Chase, Citi and Wells Fargo Lose $5,606,000,000 to Bad Loans in Just Three Months appeared first on The Daily Hodl.