Wells Fargo CFO on the decision to release loan reserves

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Wells Fargo shares are lower on a revenue miss. New Wells Fargo CFO Michael Santomassimo joins 'Closing Bell' to discuss the company's recovery plans, thoughts on the Covid-19 economic comeback and Q4 earnings results.
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Wilfred, do you read? reserves were released on a loan portfolio that has been sold.

trcobb
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Heard for four years: "we are going to cut expenses"


Took this new management two years just to learn what to cut. Seems like Fed should have lifted the cap when the ceo and all the directors were replaced.

hexodeci
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Wells Fargo has been the worst performing stock in my portfolio. No reason to keep this horrible company that is blaming old management for 4 years. Any other large cap company has recovered while wells is stock has been stuck around March April price. Company is still full of crooks and I finally realize this now

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