Wall Street's Oil Crash, a Story Told in Charts
- Big banks add $2 billion for energy loan losses in 1Q
- Oil woes at JPMorgan, Citigroup, Bank of America, Wells Fargo
Here's Why Wells Fargo Profit Fell
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This is what it looks like on the down side of the biggest oil boom in U.S. history.
JPMorgan Chase & Co., Wells Fargo & Co., Bank of America Corp. and Citigroup Inc., with a combined $190 billion in energy loan exposure, all announced this week that they’re setting aside more money to cover losses. Though energy is a relatively small share of their assets, it’s been a big issue on analyst calls this week.