Reuters broke the news that Wells Fargo & Co has revived its special group for bad energy loans as the bank braces for more pain from the sharp downturn in oil prices. Sitting inside the credit-resolution group, where Wells Fargo handles struggling borrowers, the team includes many bankers who previously worked with the same oil and gas producers in its investment bank.
Reuters ahead with news on Wells Fargo shifting energy bankers to focus on bankruptcies
30 April 2020, 12:00 am. 1 minute
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