JPMorgan Chase, Wells Fargo and Bank of America Lose $5,000,000,000 in Push To Offload Rotten Debt As Credit Card Delinquencies Surge

US banks are increasingly offloading billions of dollars in bad debt that they’ve officially given up on collecting, according to new numbers from the Federal Deposit Insurance Corporation (FDIC). In its new Quarterly Banking Profile report, the FDIC says US banks reported $21.3 billion in net charge-offs in the second quarter of the year, due […] source: https://dailyhodl.com/2024/09/20/jpmorgan-chase-wells-fargo-and-bank-of-america-lose-5000000000-in-push-to-offload-rotten-debt-as-credit-card-delinquencies-surge/