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

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 $1.106 billion of net charge-offs in the first three months of 2026. JPMorgan said firmwide credit costs totaled $2.5 billion, including the $2.3 billion in net charge-offs while Citigroup said its U.S. Personal Banking business recorded a $2.1 billion provision for credit losses, including $1.742 billion of net credit losses in U.S. branded cards and retail services. Other Citi businesses also added to the company’s total net credit losses. Despite the bad loans, JPMorgan Chase CEO Jamie Dimon says the US economy is remaining resilient. “The U.S. economy

Source: https://dailyhodl.com/2026/04/18/jpmorgan-chase-citi-and-wells-fargo-lose-5606000000-to-bad-loans-in-just-three-months/