JP Morgan's Consumer Banking CEO Marianne Lake Says Consumer Remains Healthy And Resilient; Seeing Some Slowdown In Discretionary Spends; Overall Demand For Credit From Small Businesses Remains Muted; We Expect Loss Rates To Be Relatively Stable; Card Delinquencies And Charge-Offs Have Normalized
Portfolio Pulse from Benzinga Newsdesk
JP Morgan's Consumer Banking CEO Marianne Lake reports that consumers remain healthy and resilient, though there is a slowdown in discretionary spending. Demand for credit from small businesses is muted, but loss rates are expected to remain stable. Card delinquencies and charge-offs have normalized.
May 20, 2024 | 1:59 pm
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JP Morgan's Consumer Banking CEO Marianne Lake reports that consumers remain healthy and resilient, though there is a slowdown in discretionary spending. Demand for credit from small businesses is muted, but loss rates are expected to remain stable. Card delinquencies and charge-offs have normalized.
The news provides a mixed outlook for JP Morgan. While consumer health and resilience are positive, the slowdown in discretionary spending and muted small business credit demand could offset these gains. Stable loss rates and normalized card delinquencies are neutral factors.
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