Reported 26 days ago
Wells Fargo faces fresh regulatory scrutiny over its anti-money laundering practices, which may extend its asset cap imposed by the Federal Reserve. Analysts express concern that ongoing compliance issues signal the bank's challenges in fully resolving problems stemming from the 2016 fake accounts scandal. Wells Fargo had hoped to lift its $1.95 trillion asset cap, but the latest regulatory actions complicate its timeline for recovery and growth.
Source: YAHOO