Michael Flynn Spreads False Christian Nationalist History
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The opening week of first-quarter earnings season was billed as a referendum on the state of the U.S. economy, specifically consumer spending. While Wells Fargo didn’t post stellar earnings Friday (April 12) it did vote “yes” on the economic prospects for the balance of 2024. “We continue to see strength in the U.S. economy,” CEO Charlie Scharf said during the company’s […]
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Wells Fargo Sees NII Drop as Pressure from Depositors Mounts
Wells Fargo & Co. missed estimates for net interest income in the first quarter, a sign that muted loan growth and increased pressure to pay...
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Wells Fargo profit shrinks more than 7% on lower interest income
The bank's net interest income (NII) -- the difference between what it earns on loans and pays out for deposits -- fell 8% to $12.23 billion. NII was hurt by higher interest rates on funding costs, including the impact of customers moving to higher yielding deposit products, as well as lower loan balances, the bank said. The shifting U.S. interest rate outlook is an important factor that will drive banks' future profits.