Big Banks Prepare prepare “for an onslaught of defaults in debt that range from credit cards and mortgages to business loans”

As reported by NPR:

Banks are starting to reel from the financial impact of job losses and business shutdowns across the country from the coronavirus.

Two of the nation’s biggest banks reported plummeting profits during the first three months of the year as they sought to prepare for an onslaught of defaults in debt that ranged from credit cards and mortgages to business loans.

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