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The Economic Times

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Wells Fargo misses profit estimates on severance costs, shares fall

Wells Fargo reported lower profits, impacted by severance costs for operational streamlining. The bank's shares saw a significant drop. Despite missing some profit targets, Wells Fargo is focusing on growth initiatives, including new credit card products and AI investment. The lifting of an asset cap offers potential for expansion.

15 Jan 2026 8:16 am