48 hours into new job...

New president and chief executive of Wells Fargo & Co., Tim Sloan dove into details of the bank’s scandal over sales practices on a conference call Friday morning.

The bank reported third-quarter earnings Friday morning with net income of $5.6 billion, down from $5.8 billion at this time last year. Expenses were up for the third quarter, and executives say that trend that will continue in the coming quarters as the bank faces legal costs from the scandal.

 

 

 

 

It’s uncertain how the issue will impact the San Francisco-based bank’s revenue going forward.