Weinbach announced this morning that it’s not being sold.
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Probably makes a lot of sense. Those store cards probably aren't super profitable and likely more risk than other types of lending especially if Wells isn't a large player in that market. I'll admit I used them when I made very little money and needed to "finance" furniture or whatever. IIRC, that was all part of that PCF business years ago and probably had all kinds of weird stuff. Same goes for some of those other areas like student loans.
At the end of the day, given where the company is now, they should shed things that aren't really core to the business, profitable or a leader/competent player. It might also open up growth in other areas given the asset cap. Heck if anything, regular card business would be the focus IMO.
That would make sense. WF is nowhere near the lead and falling. If a premium can be garnered...let it go, baby, let it go.