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[$$] Wells Fargo’s Problems Spread to Business Lending

The drumbeat of negative news around its governance issues is one reason for its struggles, and shooting the messenger won’t help. Chief Financial Officer John Shrewsberry said at a conference on Friday that he expects two key classes of business loans, commercial real estate and commercial and industrial loans, to fall from second-quarter levels, although he didn’t specify an exact time frame. Wells Fargo’s total loans outstanding at the end of the second quarter were down by $3 billion compared with the prior quarter, driven by declines in consumer and commercial real-estate loans.