Dimon: "We expect to continue to be challenged by high default-related expenses." Regulatory...
Dimon: "We expect to continue to be challenged by high default-related expenses." Regulatory guidance (pg. 8 of the presentation) is forcing higher charge-offs - $825M, or $0.14/share in Q3 - on certain mortgage loans. Wells Fargo (WFC) reported an additional $567M in charge-offs due to this. Keep an eye on BAC and C reports. JPM -0.7% premarket.
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