Consumers have benefited from a strong labor market and wage increases. The performance of our consumer auto portfolio continued to improve, reflecting prior credit tightening actions.
Home lending activity contributed significantly to JPMorgan's net revenues, driven by higher net interest income in Q2 2024.
Wells Fargo experienced a decline in home lending revenues in Q2 2024 due to focus on simplification and lower loan balances resulting in lower mortgage banking income.
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