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Wells Fargo asset cap is preventing an additional $384B of loans - Business Insider

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The Fed's unwillingness to lift the cap even during the coronavirus crisis shows how far it feels Wells Fargo still must go to prove it has reformed

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To get this story plus others to your inbox each day, hours before they're published on Business Insider, click here. The bank has been ramping up its efforts to convince the Fed it has reformed itself enough to have the cap removed. The biggest example of these efforts is the complete The move — which was announced in February and represents Scharf's first major structural change to the bank since his appointment as CEO in October 2019 — will split the bank's three business units into five, with the heads of each reporting directly to Mr. Scarf.

 

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