WFC ▼ -3.2% - Wells Fargo & Company $WFC - Wells Fargo Bank Increases Prime Rate to 7.00 Percent Wells Fargo shares fell 3.2% following the bank's announcement that it is raising its prime rate to 7.00 percent. The rate increase typically signals expectations of higher borrowing costs, which can reduce consumer and business loan demand and compress net interest margins for the bank. 16-SEP-2026 04:51 PM ET