Wells Fargo's relationship with NRA is 'declining': CEO

FILE PHOTO: Wells Fargo Bank branch is seen in New York City, U.S., March 17, 2020. REUTERS/Jeenah Moon

(Reuters) – Wells Fargo & Co’s relationship with firearm lobbying group the National Rifle Association is “declining,” Chief Executive Charles Scharf told investors on Tuesday.

Speaking at Wells Fargo’s annual shareholder meeting, Scharf added the bank’s exposure to the gun industry was minimal. Wells Fargo has been known as one of the largest financiers of the sector in recent years.

Reporting by Imani Moise; Editing by Chris Reese

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source: reuters.com

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