Wells Fargo Expects Consumer Loan Growth to Remain Flat or Slow

Group 1 - Wells Fargo expects consumer loan growth in the U.S. to remain flat or potentially decrease through the end of the year [1][2] - Wells Fargo's CFO indicated that there is unlikely to be large growth on the consumer side, with a potential for a net decline [2] - Citigroup is preparing for a possible decline in consumer financial health by increasing provisions for potential loan losses, anticipating an increase in credit reserves by a few hundred million [3] Group 2 - The Federal Reserve's May Beige Book showed mixed signals regarding consumer credit conditions, with easing credit standards and narrowing loan interest spreads indicating increased lending activity [4] - Consumer credit data from the Federal Reserve indicated a surge of $17.9 billion in aggregate consumer credit, surpassing consensus estimates of an $11.4 billion gain [5] - Wells Fargo is observing potential improvements in deal-making and starting to see some share growth, attributed to the lifting of an asset cap imposed after a scandal [6]