Wells Fargo's income falls 6%

Posted online April 14, 2016 | 11:33 am

Wells Fargo reported a 6 percent drop in first-quarter net income as its credit loss reserves rose amid higher loans and deposits in the retail business.

Profits moved down to $5.5 billion from $5.8 billion a year earlier.

Revenue increased 4 percent to $22.2 billion.

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