1. Wells Fargo is lowering prime rate to 7.00% effective October 30, 2025. 2. The previous prime rate was 7.25%, impacting lending rates and consumer finance. 3. Wells Fargo holds approximately $2.1 trillion in assets, indicating substantial market influence.
The decrease in the prime rate typically lowers borrowing costs, encouraging lending and spending. Historical comparisons show similar rate cuts often lead to increased activity in financial services, benefiting banks like WFC.
The prime rate reduction is significant as it affects overall profitability for lending banks like WFC. Strong asset base suggests WFC can leverage this reduction effectively to attract more borrowers.
Initial impacts on consumer and business lending will be felt quickly, boosting WFC's immediate lending performance and profitability. In the longer term, sustained low rates depend on economic conditions.
Wells Fargo Bank, N.A., said today it is decreasing its prime rate to 7.00 percent from 7.25 percent, effective tomorrow, Oct. 30, 2025.
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Exterior of Wells Fargo building. (Photo: Wells Fargo)
About Wells Fargo
Wells Fargo & Company (NYSE:WFC) is a leading financial services company that has approximately $2.1 trillion in assets. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 33 on Fortune's 2025 rankings of America's largest corporations. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories.
Additional information may be found at www.wellsfargo.com
LinkedIn: https://www.linkedin.com/company/wellsfargo
News Release Category: WF-CFH
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Media
Beth Richek, 980-308-1568
beth.richek@wellsfargo.com
Investor Relations
John Campbell, 415-396-0523
john.m.campbell@wellsfargo.com