JPMorgan Chase credit-card delinquencies decline in July
Aug. 17, 2020 11:21 AM ETJPMorgan Chase & Co. (JPM)JPMBy: Liz Kiesche, SA News Editor20 Comments
- JPMorgan Chase (JPM -2.1%) July credit-card delinquency rate falls to 0.99% from 1.07% in June and 1.15% in July 2019.
- Net charge-off rate of 2.03% compares with 2.06% in June and 2.21% in July 2019.
- Keep in mind that accounts that are under deferral programs offered in response to the COVID-19 pandemic may not advance to the next stage of delinquency, and ultimately charge-off, under the same timeframe that would have occurred if forbearance had not been granted.
- As a result, delinquency data for March and later may the affected by the amount of forbearances granted in connection with the COVID-19 pandemic.
- Previously: JPMorgan's June credit-card delinquency rate improves M/M (July 15)