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Wells Fargo Profit Up 17%

The nation's largest mortgage lender said revenue from mortgage banking jumped almost 80% and consumers borrowed more on their credit cards. But it called the economic recovery uneven.

 

Wells Fargo to Cut 3,800 Jobs, Stop Subprime Loans

Wells Fargo said it will shut down a unit that makes "non-prime" real estate, auto and credit card loans and stop originating nonprime mortgages, eliminating a total of 3,800 jobs.

 

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