Wells Fargo To Charge $7 A Month For Checking - Spokane, North Idaho News & Weather KHQ.com

Wells Fargo To Charge $7 A Month For Checking

KHQ.COM (AP) - Wells Fargo & Co. may consolidate branch offices as it reviews its retail business and costs.

Tim Sloan, the bank's chief financial officer, told a financial conference that the bank is looking at all its branch locations to see if there are opportunities to combine offices that may be near each other.

San Francisco-based Wells Fargo acquired Wachovia Bank in 2008 during the financial crisis. It has converted Wachovia's network of branch offices to the Wells Fargo brand. Wells Fargo has about
9,000 locations in the US.

The company, which had net income of $4.1 billion in the fourth quarter, has set a goal of cutting costs by about $1.5 billion each quarter by year's end.
   

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