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Wells Fargo cites 'negative consequences' from financial reform

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Wells Fargo & Co. says in a securities filing that the Dodd-Frank Wall Street Reform bill could have “negative consequences” on the San Francisco-based bank, parent of Charlotte-based Wachovia. Unlike Bank of America Corp., Wells did not disclose any specific projections for how the legislation will affect its bottom line. Charlotte-based BofA recently said the bill could cost it billions of dollars in lost revenue.

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