Wells Fargo Hit By Legal Charges, Mortgage Banking Slump
10/13/2017 8:52 AM EST
(Reuters) – Wells Fargo & Co reported an 18.6 percent decline in quarterly profit on Friday, hurt by previously disclosed legal costs and a slump in mortgage banking income.
Net income fell to $4.60 billion, or 84 cents per share for the quarter ended Sept. 30, from $5.64 billion, or $1.03 per share, in the same quarter of 2016.
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