WFC · News · 20260916N
Interest Rate Environment
WELLS FARGO & COMPANY/MN · 2026-09-16 · Importance 39 · Surprise 50 · In source text
Wells Fargo Bank raised its prime rate to 7.00% from 6.75%, effective September 17, 2026. The 25-basis-point increase followed the Federal Reserve’s first rate hike since 2023. The change raises borrowing costs on consumer and business products including credit cards and home-equity lines of credit, while potentially supporting bank earnings but weighing on economic activity and loan demand.
Key facts
- Wells Fargo Bank, N.A. is increasing its prime rate to 7.00 percent from 6.75 percent, effective tomorrow, Sept. 17, 2026. source
- Wells Fargo Bank, N.A. has announced an increase in its prime rate from 6.75% to 7.00%, effective Thursday, September 17, 2026. source
- This 25 basis point adjustment impacts various consumer and business loans, including credit cards and home equity lines of credit. source
- Wells Fargo & Company has approximately $2.3 trillion in assets. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | committed | — | Wells Fargo Bank, N.A. is increasing its prime rate to 7.00 percent from 6.75 percent, effective tomorrow, Sept. 17, 2026. |