Wells Fargo new retail activity continues to slow

|About: Wells Fargo & Co. (WFC)|By:, SA News Editor

Consumer checking account openings in February fell 3% from January and 43% from a year ago (Feb. 16 had one more day than Feb. 17).

New consumer credit card applications fell 4% from January and 55% Y/Y.

In some good news, customer loyalty scores rose for the fourth straight month to 57.6%, but are lower than the year-ago level of 62.1%.

More good news: consumer and small business banking deposits rose 1% M/M and 6% Y/Y.

Customer-initiated checking account closings down 10% M/M and 11% Y/Y.

Source: Press Release

WFC -1.25% on the session