Big U.S. banks’ second quarter profits to tumble on higher bad loan reserves
Collection Industry News
JULY 12, 2022
banks are expected to fall sharply from a year earlier on increased loan loss reserves, as the pandemic recovery gives way to a possible recession. Banks must factor the economic outlook into loan loss reserves under an accounting standard which took effect in January 2020. But bank executives have said more loans will go bad.
Let's personalize your content