Wells Fargo has submitted a third-party review to the Federal Reserve to lift a $1.95 trillion asset cap imposed after the 2016 fake accounts scandal. CEO Charlie Scharf has been addressing ...
(Victor J. Blue/Bloomberg) Wells Fargo is scheduled to report first-quarter earnings on Friday, and investors will be keeping an eye out for any updates on the bank’s asset cap allowance and net ...
In 2018, the Federal Reserve imposed an asset cap on Wells Fargo after its phony-accounts scandal. The asset cap may have been one of the costliest punishments in history. The bank has made ...
Sen. Elizabeth Warren, D-MA, urged Federal Reserve officials, in a letter Tuesday, to reject a plea by Wells Fargo to lift an asset cap that has halted the bank’s growth since 2018. The bank ...
Wells Fargo said on a call with the media Friday that it cannot provide an update on a potential lifting of its asset cap. Chief Financial Officer Michael Santomassimo said that while the bank ...