August 2, 2019 / 8:48 PM / 17 days ago

Wells Fargo boosts estimate for possible legal reserve shortfall to $3.9 billion

FILE PHOTO: A woman walks by a Wells Fargo bank branch in Washington, DC, U.S., October 8, 2018. REUTERS/Pete Schroeder/File Photo

NEW YORK (Reuters) - Wells Fargo & Co (WFC.N) said on Friday that it boosted its estimate for a possible legal reserve shortfall to $3.9 billion for the quarter ending June 30, from $3.1 billion earlier this year, according to a regulatory filing.

The bank said that the increase was due to “a variety of matters, including retail sales practices matters.”

Reporting By Elizabeth Dilts; Editing by Cynthia Osterman

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