6/4/2025

The first-of-its-kind growth restriction established a new precedent for how regulators can address a broken bank culture. With scant information about why the cap was lifted, the action provides little clarity on what Wells did right — or what the Fed did wrong.

Source: Yahoo

6/4/2025

Wells Fargo CEO Charlie Scharf knows he has a reputation for sternness, but he said that when the bank was finally freed of a $1.95 trillion asset cap by regulators on Tuesday, he became emotional. "Everyone thinks that I'm this tough, tough person ... but it's been so long in the making, it's impacted so many people so negatively," Scharf said. Scharf, 60, took the helm at Wells Fargo in 2019, vowing to repair its deeply entrenched problems from a fake-accounts scandal that erupted in 2016.

Source: Yahoo

6/4/2025

Wells Fargo CFO Mike Santomassimo reacts to the bank being released from a Federal Reserve asset cap that has restricted its size for over seven years. Speaking on Bloomberg The Close,...

Source: Finnhub

6/4/2025

U.S. equities were slightly higher at midday as a new report on private sector hiring missed estimates, sending bond yields down.

Source: Yahoo

6/4/2025

WFC stock jumps as the Fed lifts its $1.95T asset cap, unlocking growth potential stalled since the 2018 scandal.

Source: Yahoo

6/4/2025

The Federal Reserve lifted Wells Fargo's (WFC) $1.95 trillion asset cap this week.  Chris Whalen, chairman of Whalen Global Advisors, explains why Wells Fargo's focus is shifting toward retail banking and away from wholesale lending. To watch more expert insights and analysis on the latest market action, check out more Catalysts here.

Source: Yahoo

6/4/2025

Citigroup's sweeping business overhaul, including job cuts, market exits and management streamlining, targets $2.5B in annual savings by 2026.

Source: Yahoo

6/4/2025

Regulatory caps that limited growth have been lifted, freeing Wells Fargo to pursue new business. Wells Fargo (NYSE: WFC) is out of the penalty box, more than seven years after regulators put limits on growth in response to a fake-accounts scandal. It has been a lost decade for Wells Fargo.

Source: Yahoo

6/4/2025

↗️ Nvidia (NVDA): Shares in the AI bellwether edged up in heavy premarket trading. On Tuesday, the chip maker took the crown as the world’s most valuable company, surpassing Microsoft (MSFT). ↗️ Wells Fargo (WFC): The Federal Reserve lifted a longstanding, roughly $2 trillion cap on the bank’s assets, imposed as punishment for a fake-accounts scandal.

Source: Yahoo

6/4/2025

The cap was introduced following revelations that Wells Fargo employees had opened unauthorised accounts to meet sales targets.

Source: Yahoo

6/4/2025

Nvidia enters Wednesday as the largest U.S. company by market capitalization, while Broadcom trades at a record high ahead of quarterly earnings later this week.

Source: Yahoo

6/4/2025

CrowdStrike (CRWD) stock falls in Wednesday's pre-market trading after second quarter sales guidance fell short of expectations. The cybersecurity firm beat first quarter earnings estimates on the top and bottom line. Federal Reserve officials have lifted the asset cap on major bank Wells Fargo (WFC), now enabling the financial institution to further grow its business. According to a Bloomberg report, China is reportedly in talks with Airbus (AIR.PA) to order hundreds of new jets. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.

Source: Yahoo

6/4/2025

Bank of America bets big on physical branches, with 150 new financial centers planned by 2027 to boost growth and deepen customer ties.

Source: Yahoo

6/4/2025

Wells Fargo just got a green light from the Fed to grow. Here’s what it means for its business and its stock.

Source: MarketWatch

6/4/2025

The Federal Reserve has lifted restrictions imposed on Wells Fargo's growth seven years ago following a series of scandals, including one where staff set up fake accounts.

Source: Yahoo

6/4/2025

NEW YORK, June 4 - Wells Fargo CEOCharlie Scharf told Reuters he expects the bank to grow in allbusinesses including wealth, commercial and investment banking,credit cards but not mortgages. ...

Source: Finnhub

6/4/2025

Investing.com -- Wells Fargo shares rose 3.5% in premarket trading Wednesday after the Federal Reserve lifted a key restriction that had capped the bank’s asset growth since 2018.

Source: Yahoo

6/4/2025

The giant lender can once again compete aggressively on all fronts to make up for lost ground in deposits.

Source: Yahoo

6/4/2025

Wells Fargo CEO Charlie Scharf saidthe bank wants to increase its dividend and focus on growthafter the Federal Reserve lifted a $1.95 trillion cap on itsassets, according to an interview on CNBC....

Source: Finnhub

6/4/2025

Wells Fargo leads the Financial Select Sector SPDR ETF after it clears a hurdle on growth

Source: MarketWatch