News
Wells Fargo auto originations down 23%
Wells Fargo Auto’s origination volume fell during the second quarter as the bank’s auto portfolio shrank. Auto loan originations came in at $3.7 billion, down 22.9 percent year over year and 9.8 percent quarter over quarter, according to the bank’s earnings supplement today. Demand for business loans “remained tepid, reflecting the higher-rate environment for longer,” said Mike Santomassimo, the bank’s […]