Wells Fargo reverses ban

[WES]

http://www.ft.com/intl/cms/s/0/1c39964e-a8b0-11e3-b50f-00144feab7de.html#axzz2vfn3aDB0" class="bbc_link" target="_blank">http://www.ft.com/intl/cms/s/0/1c39964e-a8b0-11e3-b50f-00144feab7de.html#axzz2vfn3aDB0

And says that what it said wasn't what it meant: Wells Fargo's statement attempted to clarify its initial position: "The original guidance given to team members was based on investing in the equity of a P2P lending company."

[Keltset]

This is not a surprise at all that Wells would reverse their call on P2P lending. It gave them a black eye and their restated position on investing in equity of a P2P firm makes much more sense.