AAA - Credit Markets: A Storm Is Brewing
2025-10-20 12:38:16 ET
Jamie Dimon, the CEO of JPMorgan Chase & Co. ( JPM ) had some sage advice for prudent investors after the bank reported better than expected Q3 results last Tuesday. He noted that his bank took a $170 million charge from the recent bankruptcy of large subprime auto lender Tricolor Holdings amid fraud allegations in mid-September. TriColor was once the seventh largest independent used car dealer in the country. It went into Chapter 7 with approximately $2 billion in obligations outstanding and roughly 100,000 auto loans on the books. Mr. Dimon articulated the old observation around there is ' never only one cockroach ' in regard to the credit markets. It also should be noted that Fifth Third Bancorp ( FITB ) has already disclosed up to a $200 million loan loss tied to suspected fraud by Tricolor. This regional bank is in the process of merging with Comerica ( CA ) , another regional bank. ...
Credit Markets: A Storm Is Brewing