JPMorgan Chase & Co. set aside $10.47 billion to cover potential losses on loans to borrowers hurt by the coronavirus pandemic, cutting its second-quarter profit in half. Wells Fargo & Co. posted its first quarterly loss in more than a decade and socked away $9.57 billion to prepare for a wave of loan defaults. Citigroup Inc.’s second-quarter profit fell 73%, weighed down by the $7.9 billion the bank set aside for an expected increase in soured loans. source