By Jonathan Stempel, Reuters
Wells Fargo & Co., the No. 5 U.S. bank, on Monday said it will tighten its lending standards to address potential environmental risks, but the policy met resistance from an advocacy group that has pushed several banks to be more eco-friendly.
The San Francisco-based bank joined Citigroup Inc., Bank of America Corp. and JPMorgan Chase & Co., in stiffening environmental lending standards. It also said it will provide $1 billion of financing over five years for environmentally friendly business opportunities.
For this complete story, please visit Wells Fargo Adopts Environmental Lending Policy.
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