Wells Fargo CEO Charlie Scharf expressed optimism regarding the U.S. consumer's financial health during an Institute of International Finance (IIF) event. He noted that while credit levels are in single digits, there is a level of consistency in consumer behavior. Scharf also highlighted that uncertainty surrounding the U.S. elections is causing clients to pause on loan demand. In related news, Capital One reported a third-quarter net income of $1.8 billion, translating to earnings of $4.41 per share, which surpassed Wall Street estimates. The company attributed its success to strong performance in its credit card and auto-lending sectors, with adjusted earnings per share reaching $4.51. Capital One's revenue increased to $10 billion, reflecting a 5% year-over-year growth, driven by higher interest rates and increased credit card income. However, Capital One's CEO acknowledged some pressures from inflation and elevated interest rates, while also affirming the overall strength of the U.S. consumer and labor market.