Led by credit card defaults loan losses at banks are increasing at a very rapid pace although, hypothetically it MAY be described as an unusually-rapid return to norm, but that sounds a overly-optimistic to me.
Loan losses at US banks hit $19bn as borrowers feel rate rise pain
Credit card and commercial real estate customers drive ‘charge-offs’ to highest level in more than three years
US banks suffered almost $19bn of losses on soured loans in the second quarter, the highest level in more than three years as lenders contend with rising defaults among credit card and commercial real estate borrowers. . . .
. . . consumers are ploughing through the savings they amassed during the pandemic and landlords are struggling to rent out space in office buildings due to more people working from home. . . .
. . . US banks are preparing for loan losses to continue rising. . . .
. . . More than half of the recent losses came from credit card lending. US consumers have about $1tn in credit card loans
