[SatinDoll]

Do you know, or can you guess, at what will happen if Wells Fargo and JPMorgan cease to exist? What happens to the monies owed them, for houses, automobiles, and credit cards?

[Nowhere Man]

Do you know, or can you guess, at what will happen if Wells Fargo and JPMorgan cease to exist? What happens to the monies owed them, for houses, automobiles, and credit cards?

Good question, I've always thought that myself. It is like the reverse of somebody who dies and there are no relatives, what happens to any debts?

[101voodoo]

I believe the failed banks, including loans and credit card accts (assets) are taken over by the FDIC and resold to other banks. Customer deposits (liabilities) are insured up to $250,000 per eligible account so they will be taken by whichever bank buys the failed one