Wells Fargo Stock: Why It Could Continue Its Bull Run Once The Asset Cap Is Lifted
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Wells Fargo is working to lift a $1.95 trillion asset cap imposed by the Federal Reserve after a 2016 scandal. CEO Charlie Scharf has been addressing compliance issues since 2019. Despite a 2024 share jump, the cap is expected to remain into next year.
November 20, 2024 | 11:30 am
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Wells Fargo is working to lift a $1.95 trillion asset cap imposed by the Federal Reserve. CEO Charlie Scharf has been addressing compliance issues since 2019. The cap is expected to remain into next year despite a 2024 share jump.
The news focuses on Wells Fargo's efforts to lift a significant asset cap, which is crucial for its growth. However, the cap is expected to remain in place into next year, which may limit immediate stock price impact despite recent share performance.
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