Wells Fargo's new chief pledges more cost cuts as profit slumps

(Reuters) - Wells Fargo & Co's profit slumped 55% in the fourth quarter as new boss Charles Scharf set aside another $1.5 billion (1.15 billion pounds) for legal costs related to the bank's sales scandal and promised "fundamental changes."The bank racked up operational losses of $1.9 billion in the final quarter of the year, partly for reserves to cover pending litigation related to its fake-account scandal that erupted more than three years ago.Wells Fargo, the fourth-largest U.S. lender by..