Wells Fargo Proactively Cuts Profit in Half to Save Funds for Predicted Loan Losses

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Wells Fargo Proactively Cuts Profit in Half to Save Funds for Predicted Loan Losses
Posted On: July 15, 2022
This shouldn’t come as a surprise.  Most banks and financial institutions are being very careful right now as they prepare for the consequences of consumers running out of money.  All banks are securing reserve accounts in anticipation of defaults increasing. July 15 (Reuters) – Wells Fargo & Co said on Friday its second-quarter profit nearly […] The post Wells Fargo Proactively Cuts Profit in Half to Save Funds for Predicted Loan Losses appeared first on The Last Refuge.

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The Last Refuge

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Wells Fargo Proactively Cuts Profit in Half to Save Funds for Predicted Loan Losses
Posted On: July 15, 2022
This shouldn’t come as a surprise.  Most banks and financial institutions are being very careful right now as they prepare for the consequences of consumers running out of money.  All banks are securing reserve accounts in anticipation of defaults increasing. July 15 (Reuters) – Wells Fargo & Co said on Friday its second-quarter profit nearly […] The post Wells Fargo Proactively Cuts Profit in Half to Save Funds for Predicted Loan Losses appeared first on The Last Refuge.

Re Posted From: Wells Fargo Proactively Cuts Profit in Half to Save Funds for Predicted Loan Losses

The Last Refuge

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