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

<July 15, 2022

https://theconservativetreehouse.com/blog/2022/07/15/wells-fargo-proactively-cuts-profit-in-half-to-save-funds-for-predicted-loan-losses/

July 15 (Reuters) – Wells Fargo & Co said on Friday its second-quarter profit nearly halved as the bank set aside more funds to cover potential loan losses, while its mortgage lending business came under pressure from higher interest rates.