Wells Fargo & Co. is ready to boost its auto lending business after cutting exposure in 2017, CEO Tim Sloan said in an interview with Bloomberg TV's Erik Schatzker.
The San Francisco-based company curtailed its exposure in the auto loan market in mid-2017 and decided to tighten underwriting standards. Sloan said Wells has "pulled back enough and now [it will grow] that business again."
Sloan also expressed concerns about the commercial real estate market. While Wells Fargo still likes that business, some deals in that market seem "frothy," the executive said.
