Two of the nation's largest banks on Friday reported slowervolumes on home and auto loans in the second quarter as mortgagerefinances continue to taper off and car lending standardstighten.
Wells Fargo and JPMorgan Chase reported healthy profit gains,but their stocks suffered in early trading as some investors weredisappointed by the results.
The banks are among the nation's largest mortgage and autolenders, competing with credit unions in nearly every market. Thereports provide an early glimpse at lending conditions for thethree months ending June 30 – data that won't arrive from creditunion groups until mid- to late August.
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