03/18/2010 05:12 am ET Updated May 25, 2011

Wells Fargo Credit-Card Rates To Rise Ahead of Law

Oct. 7 (Bloomberg) -- Wells Fargo & Co. plans to raise interest rates on a majority of credit-card customers by 3 percentage points before new rules limiting such increases take effect, according to a company executive.

"This is something we've been contemplating for quite a period of time," Kevin Rhein, group head of card services for the San Francisco-based bank, said today in a telephone interview.