Asked by The Times to clarify the connection on Wednesday, Wells Fargo spokesman Peter Gilchrist said there was none. Asked directly to confirm that the pay raises were not a result of the tax bill, Gilchrist said, “That is correct.”On Thursday, Gilchrist backtracked. He would not comment on the reason for the earlier statement or whether Wells Fargo would have raised its pay if the tax bill had not passed. jim.puzzanghera@latimes.comTwitter: @JimPuzzangheraUPDATES:1:10 p.m.: This article was updated with comment from Arati Sontakay Randolph, a Wells Fargo senior vice president. 11:10 a.m.: This article was updated with Wells Fargo spokesman Peter Gilchrist saying Thursday the pay raises were a result of the tax bill.

Source: Los Angeles Times December 21, 2017 17:55 UTC