All articles tagged with #asset cap
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.
The Federal Reserve has lifted the $2 trillion asset cap on Wells Fargo, imposed after the 2016 fake accounts scandal, marking a significant step in the bank's recovery and regulatory easing, allowing it to expand lending and business operations.
Wells Fargo has made significant progress in resolving its longstanding regulatory issues, with the OCC lifting a 2015 enforcement order, leaving only one remaining enforcement action and moving closer to lifting the asset cap imposed after the 2016 fake accounts scandal.