Wells Fargo reports $2.4 billion loss for the quarter, slashes dividend to 10 cents
Charles Scharf
Michael Nagle | Bloomberg | Getty Images
Wells Fargo on Tuesday posted its first quarterly loss since the financial crisis as the bank set aside $8.4 billion in loan loss reserves tied to the coronavirus pandemic.
The bank had a net loss of $2.4 billion in the second quarter, or a loss of $0.66 a share, worse than the 20 cents a share loss expected by analysts surveyed by…
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