BANKS BRACE FOR BIG LOAN DEFAULTS BY US, GLOBAL CUSTOMERS
The major banks in the U.S. are anticipating a flood of loan defaults as households and business customers take a big financial hit from the coronavirus pandemic.
JPMorgan Chase, Wells Fargo, Bank of America, Citigroup and Goldman Sachs raised the funds set aside for bad loans by nearly $20 billion combined in the first quarter, earnings reports released over the past two days show. And Wall Street expects that figure may go even higher next quarter, a
