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

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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