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Federal Reserve lifts Wells Fargo’s asset cap
The US central bank has removed a long-standing barrier to Wells Fargo’s growth ambitions by scrapping an asset cap imposed on the lender following its “fake accounts” scandal. Wells had met all the conditions required by the Federal Reserve’s 2018 enforcement action for the removal of the asset cap,
The consent order required an unprecedented restriction on growth, known as an asset cap, until Wells Fargo showed that it ...
Wells Fargo confirmed that the Board of Governors of the Federal Reserve System has determined that Wells Fargo has met all ...
After the fed lifted an asset cap from Wells Fargo, CEO Charlie Scharf announced all full-time employees will get a $2,000 ...
Wells Fargo on Thursday moved a step closer to getting its asset cap lifted after a top U.S. regulator lifted a 2015 ...
A brief background to understand why the fourth-largest bank in the country hadn’t been allowed to grow since 2018.
Wells Fargo shares rose 3.5% in premarket trading Wednesday after the Federal Reserve lifted a key restriction that had capped the bank’s asset growth since 2018.
The 2015 order brought by the OCC was the 13th closed since 2019 and the seventh this year. CEO Charlie Scharf indicated ...
Wells Fargo cleared its twelfth consent order since 2019 and moved closer to fixing longstanding regulatory issues that have ...
The Consumer Financial Protection Bureau has terminated its 2018 consent order against Wells Fargo, leaving two yet to be resolved, including the Federal Reserve’s asset cap, the bank ...
We’re not done, but we’re a hell of a lot closer to the end than the beginning, at this point,” the CEO said Wednesday.
Wells Fargo has checked more boxes in its ... and came in coordination with a consent order from the CFPB. The CFPB order remains outstanding. Earlier last month, Wells also cleared a ...
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