JPMorgan CEO Jamie Dimon Sounds Alarm on a Troubling Corner of Subprime Lending

JPMorgan CEO Jamie Dimon Sounds Alarm on a Troubling Corner of Subprime Lending

JPMorgan CEO Jamie Dimon warned investors to be “forewarned” after the collapses of Tricolor and First Brands rattled Wall Street.

"When You See One Cockroach, There's Probably More." Is JPMorgan Chase's Recent Hit a Warning to Other Major Banks? @themotleyfool #stocks $JPM

Key PointsJPMorgan Chase CEO Jamie Dimon just raised some major concerns about the U.S. consumer credit market. Speaking on problems in the U.S. consumer credit space, Dimon suggested that seeing one "cockroach" is likely an indicator of greater problems. JPMorgan took a write-down on credit extended to auto lender Tricolor, and the development has some investors worried bigger credit problems could be on the horizon. 10 stocks we like better th…

Jamie Dimon on Tricolor and First Brands crack-ups: 'When you see one cockroach, there's probably more'

JPMorgan CEO Jamie Dimon.Noam Galai/Getty ImagesAuto industry bankruptcies have led to broader concerns about the health of non-bank lending."When you see one cockroach, there's probably more," JPMorgan CEO Jamie Dimon said about the market.The firm took a hit from one bankruptcy, but says some areas are riskier than others.The recent collapse of subprime auto-lenders Tricolor Holdings and debt-heavy auto-parts company First Brands has raised qu…

Tricolor Contributed $170 Million Charge-Off to JPMorgan’s Costs

The dramatic collapse of subprime auto lender Tricolor Holdings hit JPMorgan Chase & Co.’s earnings in the third quarter, contributing a $170 million charge-off that led to the bank’s elevated credit-cost figure, Chief Financial Officer Jeremy Barnum said.

JPMorgan takes $170M charge-off on Tricolor ties

The bank’s CEO Jamie Dimon called the misstep, in connection to the bankrupt subprime auto lender, “not our finest moment.” He also warned that “when you see one cockroach, there are probably more.”

JPM's Jamie Dimon warns bad loans are like 'cockroaches' after Tricolor loss

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