Wells Fargo Posts Gains in 2010

Wells Fargo has annouced that it posted a $2.5 billion profit in the first quarter, despite the fact that home loan originations are down for the year. Overall, Walls Fargo has made $21.4 billion in 2010, up 2% the same time last year. According to the bank, revenue from debit cards, insurance, and other loans has made up for the shortcomings in the housing market. In addition, Wells Fargo is beginning to see profit from its Wachovia acquisition in 2008.