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Wells Fargo CFO Says Inflation, Rising Rates Not Yet Stressing Business

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WATCH: Wells Fargo clients are coping well with inflation and rising interest rates, which hasn’t yet stressed business at the bank, according to CEO Santomassimo.Source: Bloomberg

Wells Fargo & Co. clients are coping well with inflation and rising interest rates, which hasn’t yet stressed business at the bank, according to Chief Financial Officer Mike Santomassimo.

“So far, so good,” he said Thursday in a Bloomberg Television interview. “Clients come into this both on the consumer side and the corporate side in a much better position than they would have in other rising-rate environments.”