this post was submitted on 15 Jul 2024
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United States | News & Politics

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JPMorgan Chase, Wells Fargo Suffer $3,500,000,000 in Losses As US Banks Report Major Surge in Bad Debt (dailyhodl.com)
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[–] oxjox@lemmy.ml 8 points 3 months ago

This was inevitable. Inflation increased while people complained they didn't have money. That means people were using credit cards.