Wells Fargo Profit Jumps 48%
Economy • 4/20/11 8:00:35 am • Views: 758
Wells Fargo, the nation’s biggest retail bank, posted record first-quarter profit on Wednesday of $3.8 billion, a 48 percent increase from the period a year earlier, even as it contended with industrywide problems including a slowdown in mortgage lending and the costs of cleaning up the foreclosure mess.
Gee, I wonder if they will pass any of this record profit on to their customers in the form of higher interest rates on CD’s, Saving Accounts and such? Probably not a good idea to hold one’s breath in expectation…
