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Wells Fargo’s CFO Says Fiscal Cliff Spurred Fourth-Quarter Loans

Jan. 11 (Bloomberg) -- Wells Fargo & Co. Chief Financial Officer Tim Sloan said concerns about the fiscal cliff debate may have stimulated customers to get loans instead of damping economic activity.

The congressional effort to avert tax increases and spending cuts had a slightly positive effect as customers sought to secure money before lawmakers made a decision, Sloan said today during the San Francisco-based lender’s quarterly earnings conference call.

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To contact the reporter on this story: Rick Green in New York at rgreen18@bloomberg.net

To contact the editor responsible for this story: Rick Green at rgreen18@bloomberg.net

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