Wells Fargo Scandal Disclosure Will Be A Effective Kbw Anlayst

The headlines keep getting worse for Wells Fargo in its fake account scandal, but the latest disclosures actually could represent a turning point.
“Wells Fargo shares took a hit from the announcement, falling 0.8 percent by mid-Thursday afternoon.
However, Kleinhanzl thinks Wells Fargo can begin repairing some the damage.
By comparison, the KBW Nasdaq Bank Index is off about 1.2 percent in what has been a rough year for financials overall.
He noted that the firm already had gone public that there would be a further review that would show more accounts affected.

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