Wells Fargo & Co. is slashing costs, cutting staff and tightening up on lending to ride out the coronavirus recession. Its rivals might not be too far behind.
The fourth-largest U.S. lender entered the pandemic in worse shape than its peers. The bank is still clawing its way back from a 2016 fake-account scandal that put it on the wrong side of customers and regulators. Revenue has fallen for two years in a row, and the bank recently reported its first quarterly loss since 2008.
There doing it by screwing people on the refunds for cpi they waited 13 years to ask for proof of insurance and after 10 years it takes a order from a court . My God Lock these aholes up.
Wells is constrained by regulators over its bad past...because they wont let it broaden its offering like JPM, Citi, BAC etc its more exposed to risk ie consumer......u cant have it both ways...either they tighten up or.....
Wells Fargo has always screwed over their customers
Would think all lenders would tighten credit, loans, etc., and most should have done it in early June while monitoring economy. Better late than never.
Stupid this is the time to drop conventional wisdom for digital innovation...just evolve!
Oh Trump this is gonna be very bad for your poll numbers.
With all the scandals they have been involved in, I'm surprised they are still open...
India is with you Wells Fargo.
they got the most commercial real estate exposure, first in line to be shot.
Poor Wells Fargo, Charlie will take Wells and drive it into the ground as he did to BNYM. Chuck thinks he's a know it all, but in reality he an incompetent buffoon.
But Trumo swears things are going well and everything is fine. Are you sure there is a recession?
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