Wells Fargo Breaks From the Herd on Loans, Saying It’s Time to Be Prudent

With interest rates rising and borrowers keeping up on payments, bank shareholders want to see which lenders are taking advantage. Wells Fargo & Co., under the thumb of a regulatory asset cap, rattled investors Friday by posting the only decline in loans as the top U.S. banks began reporting quarterly results. While JPMorgan Chase & Co. and Citigroup Inc. found areas to expand, Wells Fargo cut both consumer and commercial lending.