Stumpf says Wells Fargo is focusing on reducing expenses

05/24/2011 | Bloomberg

John Stumpf, chief executive officer at Wells Fargo, said the bank has "continued to focus on corporate-wide expense reductions," including the cost of soured home loans. In a presentation at an investor conference, Mr. Stumpf also said that an overhaul of Fannie Mae and Freddie Mac won't likely happen before 2013, partially because of the 2012 election cycle.

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