Wells Fargo CFO says accounts scandal won't hit profit much - WSJ

Wells Fargo CFO says accounts scandal won't hit profit much - WSJ
 

Wells Fargo & Co's (WFC.N) chief financial officer said efforts by states to penalize its business over an unauthorized-accounts scandal would not affect third-quarter earnings "much", the Wall Street Journal reported, citing a recording of an internal call.
John Shrewsberry was recorded as saying the bank would only take "some legal set-asides" but publicizing this "might incentivize people to do more, to make it tougher on Wells Fargo ...," the Journal reported. (on.wsj.com/2dYxDOY)
The hour-long call with 500 senior Wells Fargo executives took place on... read more

 
11 October 2016 in Business, Views: 53
Source: Reuters
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