Wells Fargo Chief Financial Officer Mike Santomassimo said consumer loan growth is likely to continue to be sluggish in the second half of this year, and may even decline. Given the uncertainty of the US tariff policy, he predicted that the growth of commercial loans would face difficulties. Last week, the Federal Reserve announced the lifting of asset size restrictions on Wells Fargo Bank. Santomassimo said it is beginning to see a slight increase in the share of investment banking business.

Wells Fargo Chief Financial Officer Mike Santomassimo said consumer loan growth is likely to continue to be sluggish in the second half of this year, and may even decline. Given the uncertainty of the US tariff policy, he predicted that the growth of commercial loans would face difficulties. Last week, the Federal Reserve announced the lifting of asset size restrictions on Wells Fargo Bank. Santomassimo said it is beginning to see a slight increase in the share of investment banking business.