Wells Fargo asset cap likely to be removed next year

Exclusive-Wells Fargo asset cap likely to be lifted next year, sources say
By Nupur Anand NEW YORK (Reuters) -Wells Fargo is in the last stages of a process to pass regulatory tests to lift a $1.95 trillion asset cap next year after fixing problems from its fake accounts scandal,
Wells Fargo asset cap likely to be removed next year - report
Wells Fargo (NYSE:WFC) stock gained 2.5% in Tuesday premarket trading after a media report that the asset cap placed on the bank almost seven years ago is likely to be lifted in 2025. The company is in the last stages of a process to pass regulatory tests to remove a $1.
Fed Could Lift Wells' Asset Cap Next Year: Reports
Wells Fargo is wrapping up the process of regulatory requirements necessary for lifting a $1.95 trillion asset cap next year, according to news reports.
Wells Fargo asset cap could be removed next year, Reuters reports
Wells Fargo (WFC) is in the last stages of a process to pass regulatory tests to lift a $1.95 trillion asset cap next year after fixing
Wells Fargo Stock: Why It Could Continue Its Bull Run Once The Asset Cap Is Lifted
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. Read more here.
Wells Fargo asset cap could be lifted by next year; HSBC loses appeal against €32mn Euribor-rigging fine
Since the issues surfaced in 2016, the bank has faced billions in fines and numerous regulatory penalties, many of which remain unresolved. However, the bank has made progress, closing six consent orders since chief executive Charlie Scharf’s appointment in 2019, although eight remain active.
Don’t lift Wells Fargo asset cap, Warren tells Fed
The bank’s OCC order, citing anti-money laundering deficiencies, and a court case over alleged sham interviews prove Wells hasn’t changed sufficiently, the senator wrote in a letter to central bank officials.
Wells Fargo shares gain as asset cap likely to be lifted in 2025, report says
Wells Fargo (NYSE:WFC) is nearing the final stages of meeting regulatory requirements to lift the $1.95 trillion asset cap imposed after its fake accounts scandal, Reuters reported Tuesday, citing three sources with knowledge
Yahoo Finance6d
Senator Urges Fed to Maintain Asset Cap on WFC Over Compliance Issues
Elizabeth Warren, a top Democratic Senator, has requested the Federal Reserve not to remove the $1.95 trillion asset cap ...
Barron's7mon
Wells Fargo's Asset Cap Could Be Key for the Stock
(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 ...
The Motley Fool12d
Prediction: Trump's Victory Should Pave the Way for Wells Fargo to Shed Its Asset Cap, Which Has Cost the Bank Billions in Profits
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 ...
Business Insider India4y
Wells Fargo forced to close loan applications due to asset cap
Wells Fargo has tried to shake the asset cap in order to extend greater coronavirus relief to consumers and businesses. The $1.95 trillion asset cap was imposed in response to the bank's ...
Barron's7mon
Wells Fargo on a Potential Lifting of the Asset Cap: It's 'Up to the Regulators'
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 ...