Wells Fargo customer numbers decline
Wells Fargo continues to see declines in new customers.
Wells Fargo said the number of new checking accounts opened was down 31% in January from a year ago and applications for credit cards declined even more, falling 47%.
Customer interactions at branches also were down, falling 14%.
The decline comes after the bank’s recent scandal over its sales practices.
Wells Fargo has been releasing monthly reports on these figures since the scandal as a “report card” on how the bank has been recovering.
In other business news, Southwest Airlines has filed a complaint against the Aircraft Mechanics Fraternal Association, saying union leaders told mechanics to decline overtime work.
The airline depends on its mechanics working overtime to keep up with maintenance.
The boycott has driven up costs by forcing the airline to bring in outside workers.
The suit, filed last Wednesday, said there was a 75% drop in union workers who signed up for overtime the previous weekend.