When the Federal Reserve in June lifted the $1.95 trillion asset cap it imposed on Wells Fargo back in 2018 as punishment for a widespread scandal involving the creation of fake customer accounts, CEO ...

Wells Fargo & Co. just did something it hasn’t been able to do for more than seven years: Cross the $1.95 trillion asset mark.

The Federal Reserve has lifted the $1.95 trillion asset cap on Wells Fargo. The restriction was imposed in 2018 due to a series of scandals. This decision allows Wells Fargo to pursue growth ...

Since taking over in 2019, Scharf's goal has been to convince the Federal Reserve that Wells Fargo had fixed its toxic banking practices. With the asset cap removed, the bank can now pursue more ...

Barron’s recommended buying Wells Fargo stock in October in anticipation of the asset cap’s removal. It has gained 34% since then, outperforming the S&P 500 by 30 percentage points.

Wells Fargo said its profit rose in the second quarter, in which a years-long restriction on growth at the bank was lifted by ...

"The Federal Reserve's decision to lift the asset cap marks a pivotal milestone in our journey to transform Wells Fargo," CEO Charlie Scharf said. Santander Bank closing 18 branches, including two ...

Since taking over in 2019, Scharf's goal has been to convince the Federal Reserve that Wells Fargo had fixed its toxic banking practices. With the asset cap removed, the bank can now pursue more ...

Since taking over in 2019, Scharf's goal has been to convince the Federal Reserve that Wells Fargo had fixed its toxic banking practices. With the asset cap removed, the bank can now pursue more ...

Federal regulators on Tuesday lifted Wells Fargo 's $1.95 trillion asset cap punishment over its fake sales scandal that had prevented it from growing for the past seven years -- a major turning ...

Federal regulators have lifted Wells Fargo’s $1.95 trillion asset cap, its biggest penalty since the 2016 fake accounts scandal, allowing growth again.