Wells Fargo CFO Says Bank Is Consolidating Auto Centers

The video discusses Wells Fargo's strategy in the auto lending market, highlighting its position as a major lender and its decision to reduce exposure to lower credit quality loans. The company is reorganizing its lending facilities and consolidating collection centers to manage risk better. Despite market challenges, such as fluctuating used car prices, Wells Fargo believes the market is not mispriced and is taking steps to maintain a balanced risk portfolio.

How have used car prices affected the auto lending market?

What is the expected impact of consolidating collection centers on the risk portfolio?