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Wells Fargo reports higher second-quarter profit


    (Reuters) - Wells Fargo & Co on Friday reported higher second-quarter profit on strong mortgage banking income as borrowers continued to refinance their homes at low rates.

    The nation's fourth-biggest bank said net income was $4.6 billion, or 82 cents a share, compared with $3.9 billion, or 70 cents a share, in the same period a year earlier.

    The San Francisco-based bank is the largest U.S. mortgage lender.

    (Reporting By Rick Rothacker in Charlotte, North Carolina; editing by John Wallace)