Wells announces cuts to home mortgage business

By Alexander Saeedy
27 Aug 2018

Wells Fargo announced plans to cut over 600 staffers from its residential mortgage units, the latest of several rounds of cuts at the bank in 2018.

In an emailed statement, a spokesperson for Wells Fargo said that 638 positions will be cut in total. 

In February, the Federal Reserve announced that it would restrict the bank from growing assets beyond the $2tr it held at year end 2017 as punishment for defrauding its customers. Wells ...

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