JPMorgan Chase, Wells Fargo hunker down for increased credit losses | Auto Finance News | Auto Finance News

JPMorgan Chase, Wells Fargo hunker down for increased credit losses

© Can Stock Photo / photolady8

JPMorgan Chase and Wells Fargo are stockpiling reserves in the expectation of increased credit losses as a result of the unprecedented COVID-19 economic crisis, according to the companies’ first-quarter earnings calls today. Chase Auto, for one, increased its allowance for credit losses 57% year over year to $732 million and anticipates that number will continue […]

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