The Fed is lifting Wells Fargo's asset cap so it can help lend to small business

Since the intensification of the coronavirus crisis, the Fed has implemented a variety of programs aimed at helping markets function and getting money to businesses and consumers.

The Main Street lending program announced earlier is geared specifically for businesses with more than 500 employees but less than larger corporations. Lifting the Wells asset cap "provides additional support to small businesses hurt by the economic effects of the coronavirus by allowing activities from the PPP and the Main Street Lending Program to not count against the cap."

crony capitalism perpetuated by central banks is fun, isn’t it? keep using the digital dollars and support american rape of small business!!! we, the people... right? 🙃

Based on the Feds terms to temporary suspend the cap Wells Fraudgo gets another lifeline used it wisely n put ur clients needs first 🙄👀👀

Just spoke to Wells Fargo my local branch they know nothing about this 😄 typical

Aren’t these the crooks that were making fraudulent accounts and stealing from customers? Bad move.

Initial pop...then everyone saying 'wait, how bad was their balance sheet?'

The same Wells Fargo that FRAUDULENTLY opened accounts for it's own customers?...... 👍

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