Chase, the nation’s largest bank by assets, is among the first of the major U.S. companies to describe the financial impact of the coronavirus pandemic, which has shut down businesses across the country and put millions of Americans out of work. Chase is facing billions of dollars in losses, as borrowers who were in fine shape just weeks ago — ranging from individuals with credit cards to oil and gas companies — are now at risk of running out of money and defaulting on loans.
JPMorgan Chase profit plummets as it sets aside cash to cover loans hit by coronavirus
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