Wells Fargo's Oil Misfire Pushes Profits Below $1 A Share, But No Cause For Alarm |
| April 15, 2016 | April 2016 Bond Updates |
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The quarterly earnings of Wells Fargo, the nation's third largest bank by assets, are often seen as a barometer for the U.S. economy given the lender's heavy domestic exposure and its expansive operations in consumer facing businesses like mortgage and retail banking. Recently, however, bank investors have taken a close eye on Wells Fargo's lending to the oil and gas industry, where it has some $42 billion in exposure, mostly to sub-investment grade rated corporations. |
| View more at: http://www.forbes.com/sites/antoinegara/2016/04/14/wells-fargo-reports-minimal-new-credit-issues-despite-plunging-oil-prices/ |
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