Wells Fargo prepares to cut tens of thousands of jobs - Business Insider

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Under pressure to drastically reduce costs, Wells Fargo is preparing to cut tens of thousands of jobs starting this year

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It's also tightening requirements for the refinancing of certain mortgages. The bank now requires new customers who want to refinance a jumbo mortgage to bring at least $1 million in balances — quadruple the previous requirement of $250,000 — people with knowledge of the policy

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Wells Fargo should have been shuttered long ago.

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