November 27, 2007

Wells Fargo to take $1.4 billion charge for bad loans (Reuters)

Customers walk into a Wells Fargo bank branch in suburban Denver, Colorado October 18, 2006. Wells Fargo  and  Co, the second-largest U.S. mortgage lender, said on Tuesday it expects to incur a $1.4 billion pretax charge in the fourth quarter, largely for higher losses related to home equity loans. (Rick Wilking/Reuters)Reuters – Wells Fargo & Co , the
second-largest U.S. mortgage lender, said on Tuesday it expects
to incur a $1.4 billion pretax charge in the fourth quarter,
largely for higher losses related to home equity loans.

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