Reported about 7 hours ago
Wells Fargo executives are optimistic about lifting a seven-year asset cap imposed by the Federal Reserve, a restriction that has cost the bank over $36 billion in profits. As they work to address compliance issues that led to the penalty, CEO Charlie Scharf is eager to expand trading operations and improve client relations. Despite the investment in reforms and a recent stock surge, executives remain cautious given the length of the cap's enforcement and the hurdles that remain before it can be removed.
Source: YAHOO