5. GENDER EQUALITY

Wells Fargo’s Cards Revamp Is ‘Not Rocket Science,’ Scharf Says – Bloomberg Law

Wells Fargo’s Cards Revamp Is ‘Not Rocket Science,’ Scharf Says  Bloomberg Law

Wells Fargo & Co. is expanding its credit-card offerings to compete with rivals, but the push “is just not rocket science,” Chief Executive Officer Charlie Scharf said.

“Our product was uncompetitive,” Scharf said Tuesday at the Goldman Sachs U.S. Financial Services Conference. “Our rewards were not competitive, our customer service was not competitive, our credit lines were not competitive, our fraud experience, go on and on — all the things that make up great experiences with a card.”

Charles Scharf

Photographer: Kyle Grillot/Bloomberg

In the two years since Scharf took over leadership of Wells Fargo, he’s repeatedly indicated that changes to the card business …

Source: news.bloomberglaw.com

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