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Wells Fargo caps role in coronavirus rescue program at $10 bln

(Reuters) – Wells Fargo & Co said late Sunday that it will cap its participation in the U.S. government’s small business coronavirus rescue program at $10 billion due to regulatory constraints. The $350 billion loan program, which launched on Friday, will provide low-interest loans to help small businesses cover payroll and other fixed costs such as rent, mortgages and utilities over the next eight weeks.

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