Wells Fargo swings to $2.4 billion loss as pandemic bites

14 Jul by Vitaliy Dadalyan

Wells Fargo swings to $2.4 billion loss as pandemic bites

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Wells Fargo swings to $2.4 billion loss as pandemic bitesThe 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.