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

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. 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 .