Wells Fargo Rebounds as Federal Reserve Lifts Asset Cap After 7 Years
TL;DR
The Federal Reserve has lifted the asset cap on Wells Fargo after seven years, following improvements in governance and risk controls, leading to a rise in the bank's shares and allowing it to take on more deposits and fund trading growth, although immediate benefits to loan growth are uncertain.
Topics:top-newsbusiness#asset-cap#banking-regulation#business#federal-reserve#financial-growth#wells-fargo
- Wells Fargo No Longer Faces Federal Reserve’s 2018 Asset Cap Investopedia
- Wells Fargo Is Allowed to Grow Again After 7 Years Under Asset-Cap Penalty WSJ
- Wells Fargo CEO goes from fixer to builder as regulators lift punishments Reuters
- Wells Fargo Stock Rises as Fed Lifts Asset Cap After 7 Years Barron's
- Wells Fargo Confirms that the Federal Reserve Has Removed the Limits on Growth in Total Assets Imposed in its 2018 Consent Order and Announces a Special Employee Award wellsfargo.com
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