Wells Fargo Explores Selling Private-Label Card Unit

(Bloomberg) -- Wells Fargo & Co. is exploring selling a unit offering store-branded credit cards as the bank chooses businesses to keep or break off in a broad strategic overhaul, according to people with knowledge of the matter.The unit providing so-called private-label cards and point-of-sale financing strikes agreements with retailers so that shoppers can buy merchandise such as jewelry, appliances and furniture on credit. The bank has started reaching out directly to possible bidders,...