Wells Fargo (NYSE: WFC) CEO Says Banks Are Lending as Much as They Can

Wells Fargo (NYSE: WFC) CEO John Stumpf said on Wednesday that banks are not holding back on making loans in the wake of the global financial crisis.

A group of three chief executives including Bank of America CEO Kenneth Lewis, Wells Fargo CEO John Stumpf and Jim Rodgers, CEO of Duke Energy met at the Charlotte Chamber of Commerce’s Economic Outlook Conference at the Charlotte Convention Center on Wednesday.

In a panel discussion at a Charlotte event, Stumpf said that “We’re lending all the money we can lend.”

Some critics of the company have said that Wells Fargo and others are intentionally holding back on their lending activities in hopes of boosting capital for themselves at the expense of economic growth for the rest of the country.

In a separate discussion, Stumpf discussed Wells Fargo’s purchase of Charlotte-based Wachovia last year and told the community that he was hoping to bring additional businesses there.

“I continue to look for businesses that we can bring here, headquarter here,” Stumpf said during the discussion. “It helps this community and helps us.”