Proprietary Reports with Analysis on Wells Fargo U.S. Credit Card Company Performance.

Report Summary:

Wells Fargo continues to reel from the bank’s fraudulent sales practices exposed last year, as new credit card account acquisitions fell more than 46% year-on-year (YOY) in the first quarter (1Q/17). Consumer credit card portfolio metrics remained soft with single digit YOY gains, and there was a noticeable uptick in charge-offs.

The only bright spot: commercial credit card purchase dollar (PDV) was up 14.3% YOY.

Average consumer credit card 1Q/17 outstandings grew 4.8% YOY to $34.7 billion, compared . . . .

 

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