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Interest-Rate Risk Outweighs Bad Credit
Wells Fargo CEO wants to increase the bank's lending and predicts an increase in mergers among smaller lenders.
Wells Fargo & Co. Chief Executive Officer John Stumpf said managing low interest rates may be the most pressing challenge for bankers and that his company had prematurely kept funds idle to gird for increases.
“One of the biggest risks today in our industry is not credit risk; it's interest-rate risk,” Stumpf said today at an investor conference in New York sponsored by the Sanford C. Bernstein & Co. research firm.
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