Wells' CEO Stumpf: Americans are not investing for future

11/26/2012 | CNNMoney/Fortune

In a wide-ranging interview, Wells Fargo CEO John Stumpf discusses the economic outlook, loan activity and the Dodd-Frank Act. Many Americans and businesses are paying off debt and increasing savings, he says. "We're starting a fourth year of the recovery, but it's a very cautious recovery. People and businesses are spending money on things they need, but they're not investing for the future in many cases," he says.

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