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Credit Offtake Could Be Subdued for Wells Fargo in Third Quarter

Andrew Brunton
Credit Offtake Could Be Subdued for Wells Fargo in Third Quarter

Structured debt and corporate lending growth have fallen in recent quarters due to lower tax rates and the Federal Reserve’s hawkish monetary policies. That has weakened US banks’ credit growth. Wells Fargo (WFC), which is already struggling with compliance- and fraud-related issues, has seen stable to negative credit growth.