Reported 2 days ago
The Federal Reserve's recent decision to lift the $1.95 trillion asset cap on Wells Fargo enables the bank to refocus its strategy towards retail banking rather than wholesale lending. According to Chris Whalen of Whalen Global Advisors, while there may be some growth in assets, Wells Fargo is undergoing substantial changes, having stepped away from key commercial and residential lending sectors. The bank aims to take market share from regional banks while enhancing its traditional banking operations.
Source: YAHOO