The Wall Street bankers that backed the biggest oil boom in U.S. history are paying a price for the bust.
Lenders including JPMorgan Chase & Co., Wells Fargo & Co. and Bank of America Corp. are setting aside more money to cover potential loan losses after crude prices fell 61 percent in less than two years. Bank of America added $595 million to its oil and natural gas loan loss reserves, bringing the total to more than $1 billion, according to an earnings statement on Thursday. JPMorgan said Wednesday that it had added $529 million, bringing the total to $1.3 billion. Wells Fargo, which will release earnings later on…
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