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Story summary
- JPMorgan Chase reported its Q2 net charge-off rate fell to 3.34% and card sales rose 10% year over year.
- Bank of America said its Q2 credit-card charge-off rate dropped to 3.55% from 3.82% a year earlier while card sales grew 9% year over year.
- Bank of America cut its full-year net charge-off forecast to 3.2% after a six-basis-point improvement from the prior quarter.
