Wells Fargo Soars: Fed's Move Unleashes Growth!
Wednesday, Jun 4, 2025 7:46 am ET1min read
WFC--
Wells Fargo & Company rose 2.70% in premarket trading, following the U.S. Federal Reserve's decision to lift a $1.95 trillion asset cap imposed on the bank in 2018. This regulatory measure, which was in response to Wells Fargo's long-running sales practices scandal, had restricted the bank's growth for seven years. The removal of the cap allows Wells FargoWFC-- to pursue unimpeded growth in areas such as credit cards, wealth management, and commercial banking, marking a significant milestone in the bank's efforts to rebuild its reputation.
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