In Q1 2026 the three largest U.S. banks—JPMorgan Chase, Citigroup and Wells Fargo—recorded a combined $5.606 billion in net charge-offs/net credit losses. JPMorgan reported $2.3B in net charge-offs and $2.5B in firmwide credit costs; Citigroup posted $2.2B of net credit losses (including a $2.1B provision in U.S. Personal Banking and $1.742B of net losses in U.S. branded cards and retail services); Wells Fargo reported $1.106B in net charge-offs with a $1.135B provision for credit losses. U.S. consumer revolving credit reached a record $1.083 trillion for the week ending April 1, 2026. JPMorgan CEO Jamie Dimon said the U.S. economy remained resilient despite risks.

The three banks reported a combined $5.606B of net charge-offs and increased provisions in Q1 2026; Citigroup and Wells Fargo disclosed large provisions and net losses in consumer/card businesses; U.S. consumer revolving credit reached a record $1.083T—these are concrete credit losses and rising consumer credit levels cited in the summary.