Consumers could turn to bane of banks
The retail division of most banks have been really strong the last few years. Mortgage activity was strong. So was other activity. Many banks were able to cross sell effectively. At Wells Fargo, for example, the number of products owned by a customers on average has risen to five. But the most recent earnings suggests that retail strength has moderated. We've been talking about this for some time. At some point, the slowing real estate market would take a toll. Looks like the time is now.
> Read an AP article.
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