Banks earnings reflect massive hit from coronavirus, but show importance of regulations

Rock-bottom interest rates and preparations for a spike in loan defaults are hitting big banks, which are widely expected to turn in the worst quarterly numbers since the financial crisis this week.


JPMorgan Chase, the nation's biggest bank in terms of assets, was the first major lender to report its latest earnings early on Tuesday, setting aside $8.9 billion for expected losses but posting better-than-expected income of $4.69...