The latest issue of Financial Standard now available as an e-newspaper
Banks brace for major loan lossesBY ALLY SELBY | WEDNESDAY, 15 JUL 2020 12:38PM
Three of the United States' biggest banks have set aside approximately $40 billion (US$28 billion) to brace for COVID-19 related loan losses, as Wells Fargo posts its first quarterly loss since the Global Financial Crisis.
Read more: Wells Fargo, COVID-19, Global Financial Crisis, United States, JP Morgan Chase, Charlie Scharf, Citigroup, Jamie Dimon, Michael Corbat
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