Wells Fargo CEO: ‘The length and severity of the economic downturn has deteriorated considerably’

Wells Fargo CEO: 'The length and severity of the economic downturn has deteriorated considerably'The San Francisco-based bank also cut its dividend for the third quarter to 10 cents per share from 51 cents previously to reflect the U.S. Federal Reserve’s recent curbs on bank dividends. Net interest income fell 18% from the prior period, as interest rates have fallen to near zero.

from Yahoo Finance https://ift.tt/2OkAJ38

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