Risk management?

[fixitguy]

Wells Fargo is pulling back from mortgage lending?

Remember back in the 2008 housing bubble they had some shady home loans and a rash of other problems. Recently they had fake accounts for whatever the reasons. 
To cut back on home lending right now might be saying something. My guess is they will let the dust settle in the coming months, then start back in loaning money when other banks are licking the wounds. 

www.msn.com/en-us/money/news/wells-fargo-to-pull-back-from-home-lending-business/ar-AA16bQ7y?OCID=ansmsnnews11&fbclid=IwAR2OZd7_-EfdcjrQKQZgs87hQW4F7cTANUThe7QHeH8aAmHWW-fORXmCMQk

[farmrbrown]

Probably a little of all the above, lol.
One of my favorite sayings...... A Banker is a man who'll lend you his umbrella when the sun's shining but wants it back when it starts to rain.

[Ozarks Tom]

Wells Fargo has been doing shady deals, and getting caught, for several years. You never know about these big banks, it could be they've found themselves in a liquidity crunch, and are upside down in their mandated reserves.

They've been loaning out at the old very low interest rates, but the return on those loans is well below what they can borrow from the Fed/Treasury for now.

[Jolly]

I think it's risk management.

Americans financed Christmas with credit cards. 20% of all new car loans today have payments of $1000 (and up)/month. Salaries have not kept pace with inflation. And it's time in the business cycle for a recession, due to the normal cycle of things and due to the Biden Bucks finally working their way out of the system.

I think we are going to see a lot of car repossession and home foreclosures over the next 18-24 months.