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JPMorgan Chase & Co. Chief Executive Jamie Dimon warned Tuesday that when it comes to bad loans, if there’s one, more are likely to emerge, especially if the economy weakens.
The banking giant
JPM disclosed on Tuesday that its loans to privately held subprime auto lender Tricolor, which declared bankruptcy in September, contributed $170 million to losses booked during the third quarter on short-term loans to non-bank financial clients, such as auto-financing firms.
This post was originally published on Market Watch
