Wells Fargo CFO Says Charge Offs Increasing In Credit Card Portfolio
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo's CFO has announced that charge offs are increasing in the company's credit card portfolio.
October 13, 2023 | 11:41 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Wells Fargo is experiencing an increase in charge offs in its credit card portfolio, which could negatively impact its financial performance.
Charge offs are debts that a company believes it will not collect. An increase in charge offs in Wells Fargo's credit card portfolio indicates that the company is facing increased credit risk, which could negatively impact its financial performance and potentially its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100