WELLS FARGO BANK LOWERS PRIME RATE TO 7.00 PERCENT
San Francisco — May 15, 2001
Wells Fargo Bank, N.A., said today it has lowered its prime rate from 7.50 percent to 7.00 percent, effective tomorrow, May 16, 2001.
This announcement affects only Wells Fargo Bank, N.A, headquartered in San Francisco, and not other Wells Fargo & Co. subsidiaries, which make interest rate decisions independently.
Wells Fargo Bank is a subsidiary of Wells Fargo & Company, a $280 billion diversified financial services company providing banking, insurance, investments, mortgage and consumer finance through more than 5,400 stores, the Internet (www.wellsfargo.com ) and other distribution channels across North America and elsewhere internationally.