Wells Fargo CEO before congress today

Full statement here: Testimony of John Stumpf
President & CEO, Wells Fargo & Company, House Financial Services Committee, February 11, 2009


Last quarter alone, we made $22 billion in new loan commitments and $50 billion in mortgages – a total of $72 billion in new loans. That’s almost three times what the U.S. Treasury invested in Wells Fargo. With the merger, we have reopened lines of credit to some Wachovia customers who previously had been denied credit.

Comment: Meanwhile CNN's Campbell Brown bashes Wells Fargo

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