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Wells Fargo Bank Increases Prime Rate to 7.75 Percent
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SAN FRANCISCO--(BUSINESS WIRE)--
Wells Fargo Bank, N.A., said today it is increasing its prime rate to 7.75 percent from 7.50 percent, effective tomorrow, Feb. 2, 2023.
Facade of a Wells Fargo bank branch in Manhattan (Photo: Wells Fargo)
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is a leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 41 on Fortune’s 2022 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories.
